NEW YORK, NY — (Marketwire) — 07/15/11 — Firms focused on content delivery are increasingly looking to cloud computing to boost customer appeal. With cloud services requiring more bandwidth due to high quality media, content delivery networks find themselves in higher demand. The Bedford Report examines the outlook for companies in the Technology Sector and provides research reports on Level 3 Communications, Inc. (NASDAQ: LVLT) and Akamai Technologies, Inc. (NASDAQ: AKAM). Access to the full company reports can be found at:
Earlier this year Level 3 Communications said that it is buying Global Crossing Ltd for $3 billion. The purchase of Global Crossing brings Level 3 several new businesses, including cloud computing services, which deliver software, data storage and other services over the Internet. Level 3 recently said that a subsidiary will offer another $300 million in debt notes in connection with its planned acquisition.
The deal is far from done however, as The Justice Department recently asked Global Crossing and Level 3 Communications for more information on the planned takeover. XO Communications, a major competitor to both Level 3 and Global Crossing, has also filed comments with the FCC, arguing the combined company will monopolize the tier one Internet backbone market.
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Apple has traditionally enlisted the help of Akamai Technologies for its content delivery network (CDN). Akamai was already the exclusive CDN of Apple-s iTunes content when in January Apple renewed its contract with Akamai for additional volume for “new services.” Speculation is that Akamai may be doing the delivery for Apple-s new streaming music service, the iCloud.
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