biddingwar
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Verizon outbids AT&T for key 5G wireless spectrum (updated)
A month ago, AT&T announced it would acquire Straight Path Communications for $1.6 billion, specifically because Straight Path owns licenses to use high-frequency radio waves that will be crucial for the next generation of wireless technology. However, after that agreement, an unnamed Multi-National Telecommunications Company (that is reportedly Verizon, the owner of this website) stepped up with a bid of $3.1 billion in stock, and tonight the Wall Street Journal reports that AT&T has declined to match it.
Sprint's proposed T-Mobile buyout now faces a competing offer from Iliad
Sprint isn't the only company hoping to shell out billions for the privilege of scooping up T-Mobile's US branch; according to the Wall Street Journal, a French company called Iliad wants in on the action as well. Iliad, which owns a mobile operator in France known as Free, recently made a bid to counter the reported $32 billion offer T-Mobile is already entertaining with Sprint's parent company Softbank. The terms of the deal are unknown, and it's unclear how Iliad can pay for such a transaction, since its market value of $16 billion is merely half of what Softbank CEO Masayoshi Son is putting on the table.
Netflix nabs a million UK subscribers, promises to 'invest heavily' to outbid Sky for movie rights
Netflix CEO Reed Hastings has threatened a bidding war with UK Broadcaster BSkyB for premium movie rights, and he could have the war chest to back it up -- the company also hit the million subscriber mark in the UK only seven months after launching there. Netflix UK boasted that it even got there faster than Twitter or Facebook did globally, and chalked up the success to most British households having at least one household streaming device. Meanwhile, Hastings said the US company intends to pry premium Hollywood movie rights away from BSkyB, promising to be "really aggressive in our bidding." The streaming service will have to overcome more than money, however -- the UK's Competition Commission granted BSkyB a rights extension to protect it from the very likes of Netflix.
'Asteroids' heading towards the big screen?
According to The Hollywood Reporter, Universal has won an all-out "bidding war" over the film rights to Atari's classic Asteroids video game. We're not entirely sure who all was involved in this "war," but the conflict couldn't possibly be prompted over the universal themes tackled by the story of the plucky little triangular spaceship and the asteroid field it inhabits. As the Reporter, um, reports: "As opposed to today's games, there is no story line or fancy world-building mythology." Michael Bay is rumored to be very interested in directing.[Via George Ruiz]
