Juniper Changes Course With Cable Deal

OK cable.

Striving to stay ahead of the ever-evolving Internet, network gear pusher Juniper (JNPR Quote) is buying a cable equipment maker on the cheap.

On Monday, Juniper agreed to buy closely held Pacific Broadband in a $200 million stock swap. That's about $100 million less than the deal was rumored to be valued at last week, according to a person familiar with the discussions, and the drop suggests that the industrywide spending freeze has slashed the asking prices even on plum properties. ...