Tuesday, June 29, 2010

The Convoluted Merger

Covad's FCC filing about its merger with MegaPath is chock full of corporate names:

"MegaPath Inc., DSLnet Communications, LLC, DSLnet Communications Virginia, Inc., and CCGI Holding Corporation (CCGI) (collectively DSLnet Applicants) filed an application pursuant to section 63.03 of the Commission’s rules to transfer control of DSLnet and DSLnet-VA, subsidiaries of MegaPath, to CCGI."

"CCGI, Platinum Equity, LLC, Covad Communications Company (CCC), and DIECA Communications, Inc. (collectively CCC Applicants) also filed an application pursuant to section 63.03 of the Commission’s rules for authority to complete a transaction whereby Platinum will relinquish de facto control of Covad and DIECA as a result of changes to the Board of Directors of CCGI, which indirectly owns those carriers."

"Applicants state that MegaPath does not offer any regulated telecommunications services nor hold any section 214 authorizations." <-- Interesting.

It gets even more lawyer-istic after that as entities are formed and merged. Wow! lawyers made some money on this one.

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