Telecommunication

Swinging wildly to a loss for the quarter due in large part to the impairment of its telecommunication assets, Dominion Resources reported a 3Q net loss of $256 million, or 79 cents per share, compared to net income of $430 million, or $1.54 per share for the same period last year.

Most energy and telecommunications companies have become involved in the convergence of the two industries within the last few years, and more consolidation is anticipated over the next few years, according to a recent survey conducted by KPMG LLP, a professional services firm. Respondents cited the sharing of infrastructure as the number one reason by a large margin that companies within the two industries are coming together.