Level 3 buys broadband provider Global Crossing for $3B

Level 3 Communications said it will buy broadband services provider Global Crossing for $1.9 billion plus $1.1 billion in debt assumption. The aim is to create a global broadband network across three continents and reduce overall expenses.

FCC Chairman Julius Genachowski says U.S. could lead in mobile broadband

Julius Genachowski, chairman of the Federal Communications Commission, wants the U.S. to catch up with other countries in making sure a high percentage of the population has access to broadband communications. He believes the way to do that is to set aside more of the radio spectrum for mobile broadband services than is currently allotted. Speaking at the Web 2.0 Summit in San Francisco on Wednesday, Genachowski talked about how to maximize investment in broadband and how to get more people on the web.

Nokia to make phones for LightSquared’s wholesale 4G network

Nokia has announced that it will develop mobile devices for billionaire Philip Falcone’s LightSquared — an ambitious 4G cellular network venture meant to compete with established carriers like AT&T, Verizon, and Sprint, Bloomberg reports.

AOL and Google renew search deal as Bing creeps up

Every time AOL is expected to fade into obscurity, something crazy happens to make it relevant again. Today it’s the five-year extension of AOL’s contract with Google to provide search functions and a portion of ad revenue.

Obama’s broadband plan leans on TV broadcasters

A big chunk of the new wireless broadband spectrum that President Obama wants to make available in the next five years would come from television broadcasters, who will be asked to give up radio spectrum slots for which they have fought and paid so that wireless data carriers can use them mostly for mobile Internet access instead.

Verizon slows down expansion of its FiOS fiber network

Verizon is looking to end the expensive roll out its FiOS service — which delivers high-speed internet, television, and phone service to millions of subscribers across the East Coast. The company will finish up its FiOS expansion in certain major markets, but those that haven’t received it yet are most likely out of luck, according to the AP.