Nortel Networks has entered into an agreement to sell its Voice over IP and Application Solutions for $282 million (US). Nortel has a "stalking horse" asset sale agreement with GENBAND for the sale of substantially all of the assets of its North America, Caribbean, Latin America and Asia Carrier VoIP and Application Solutions business, and an asset sale agreement with GENBAND for the sale of substantially all of the assets of the Europe, Middle East and Africa portion of its CVAS business, subject to balance sheet and other adjustments. These agreements include the planned sale of substantially all assets of the CVAS business globally including softswitching, gateways and SIP applications.

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Zaslav on Top With AT&T-Discovery Merger

Discovery CEO David Zaslav has spent the last 15 years building a factual content empire, but a $43 billion merger with WarnerMedia will soon have him overseeing a dynasty with more than 20 traditional cable networks, two young streaming services, and probably a partridge and a pear tree.

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