DG Fast Channel bought Vyvx advertising business from LVLT for $129 million cash. See: http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=ACBJ&date=20080605&id=8741101
After dropping significantly, LVLT rose rapidly as Wachovia upgraded its ratings following a series of successful meetings by Level 3 Communications. See: http://money.cnn.com/news/newsfeeds/articles/apwire/87400a075a4a6066f2703c66b96af266.htm
Level 3 Communication announced a quarterly net loss of $174 million, compared to a loss of $138 million last year as the company is facing difficulty in integrating its acquisitions and responding to customer orders in an efficient way. Further, the company reduced its earnings outlook for 2007 and 2008 and expects EBITDA in the range of $813-833 million, compared to previously announced $860-920 million.