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Comcast and Time Warner Cable's $45 billion merger puts 30 million customers under one roof
It's official: Confirming the leaks from last night, Comcast has announced it plans to acquire Time Warner Cable. This combination of the country's #1 and #2 cable companies will stretch from coast to coast, as TWC controls markets like New York City, LA and Texas, while Comcast strongholds include Philadelphia and Washington DC. TV isn't the only medium in play either, since as Gigaom points out, the two companies together cover not only 30 million+ cable TV subscribers, but also around the same number of internet connections and about 15 million phone lines. So, what's the likely impact for customers as a result of the deal? For several reasons the answer right away is "not much." It will take time for the combo to gain regulatory approval from the FCC and Justice Department -- check after the break for Comcast's reasons (Apple, Google, Netflix and Hulu) why the FCC should approve it -- like like the lengthy acquisition process we saw when Comcast snatched up NBCUniversal a few years ago. Despite that, both parties expect the deal to close by the end of this year, although interestingly there's no "break up fee" if the deal does not go through for some reason, which came into play when AT&T tried to acquire T-Mobile. As part of the announcement, Comcast says it's "prepared to divest systems serving approximately 3 million managed subscribers," and expects to gain about 8 million net subscribers with the move. Comcast is still trying to roll out its new X1 TV platform including cloud DVR access, while Time Warner Cable brings its own setup, complete with StartOver and LookBack VOD features that let viewers go back in time without a DVR.
CNBC: Comcast will buy Time Warner Cable tomorrow for over $40 billion
After months of rumors and a public battle with Charter Communications, CNBC reporter David Faber reports that Time Warner Cable will be acquired by Comcast tomorrow. According to sources, the number one cable TV (and internet) provider in the US will make an all-stock deal worth $159 per share to gobble up the number two provider. Of course, any such agreement would be subject to regulatory approval from the FCC, however Faber indicates Comcast is willing to ditch about 3 million subscribers to make the deal go through. Previous rumors suggested Comcast might split TWC with Charter, but that doesn't appear to be on the table even after Charter proposed a new board of directors for TWC to get its deal done. Another rumor this might put a stake in is today's curiously-timed Apple TV leak, although we'll wait for an official announcement of some kind to judge that.
Dell officially goes private, says focus is on you
Michael Dell's acquisition of his namesake company is now complete. The purchase under Dell and investment firm Silver Lake Partners was valued at $24.9 billion and, as Dell said during a September investor's call, the company is committed to innovation and customer service as a newly private company. He reiterated that point in a statement today, saying, "Our 110,000 team members worldwide are 100 percent focused on our customers and aggressively executing our long-term strategy for their benefit." In the lead up to the deal, Dell seems poised to re-focus the business around emerging markets, enterprise R&D and acquisitions, and the PC, tablet and virtual computing space. The move to privatize comes after multiple quarters of dwindling profits and lackluster tablet sales for one of the World's biggest PC makers. Credit: Getty Images
DOJ greenlights bid by Apple, Microsoft and RIM to buy Nortel patents
The US Department of Justice didn't just give the go-ahead to Google's acquisition of Motorola today, it also gave the greenlight to a $4.5 billion bid on Nortel's patents from a consortium of companies including Apple, Microsoft and RIM (who have dubbed themselves Rockstar Bidco). Nortel's portfolio includes some 6,000 patents, and the DOJ says the approval comes after it received clear commitments from Apple and Microsoft to license so-called standard essential patents on "fair, reasonable and non-discriminatory terms, as well as their commitments not to seek injunctions in disputes involving SEPs." To round things out for the day, the Justice Department has also given its clearance to Apple's acquisition of certain Novell patents, which have been held by CPTN Holdings pending approval. Its full statement can be found after the break.
Live from D9: AT&T Mobility CEO Ralph de la Vega takes the stage
Can you handle one more? Seriously? We're planted here in SoCal for the final day of D9, and we've got one more liveblog comin' your way. This go 'round, it's AT&T Mobility CEO Ralph de la Vega, and while we've no evidence whatsoever that it'll be talked about, we're guessing the proposed (and highly conversed) T-Mobile USA merger will be the primary topic of discussion. Join us after the break for the blow by blow, won't you?
RIM acquires Tungle, might soon bridge your calendar across platforms
The BlackBerry PlayBook may be noticeably lacking a calendar app of its own (at least for now), but it looks like RIM could soon have more scheduling options than ever -- it's just acquired fellow Canadian company Tungle, which specializes in syncing your calendar across platforms. At the moment, that's done with either the company's web application, or its iOS or BlackBerry app (an Android version has also been promised), which also let you share your calendar with folks inside or outside your company and, of course, tie it into your various social networks -- so you can learn about the person you're having a meeting with, for instance. As you might expect, however, RIM is staying mum on exactly what it has in mind for the company, and it also isn't divulging any specific terms of the acquisition. Head on past the break for a video demonstrating how the current service works.
Google snags PushLife, will probably use it to push music to your Android phone
At last year's Google I/O we were tantalizingly teased with the idea of music streaming to our mobile devices. Since then, there have been hints and leaks, but nothing official from Google on when or how this new service would be rolled out. Well, now we can add a big piece to that puzzle with the news that Google has acquired mobile entertainment company PushLife, which has been developing a music app of its own for the Android and BlackBerry platforms. PushLife offers one-click purchases from an integrated music store, an overview of tunes you have both on your smartphone and on your computer (with the ability to access both sets on the phone), and automatic playlist syncing with iTunes or Windows Media Player libraries. There's even more fanciness, such as recommendations based on the song you're playing, artists bios and photo galleries, plus the inevitable Twitter and Facebook integration. The Canadian startup is believed to have cashed in to the tune of $25 million and will soon be shutting down its independent operations. Also soon: Google I/O 2011. Hint, hint, Google! Demo video after the break.
Riot Games confirms Tencent majority buyout
Riot Games has confirmed that a majority of the company was bought by China's Tencent, putting its stamp of approval on rumors of the deal last week. Brandon Beck, Riot's CEO, is quoted as saying that "Tencent's investment will provide our talented team of designers, developers and community staff with additional resources to focus on innovating around League of Legends and launching new projects that push the boundaries in the gaming space." Financial Times has a nice analysis of the deal -- it sounds like this agreement will help both sides, as Riot will not only get that nice cash infusion of a rumored $350 million, but also invaluable assistance and insight for what it was already hoping would be a nice overseas adoption. And Tencent, of course, gets to lay claim to League of Legends and any other titles that Riot developers, along with the huge microtransaction-based revenues that go along with them, both here and eventually overseas. Plus, this is a sign of the growing trend of Eastern publishers picking up Western companies to develop content for the large audiences over there. Chinese publisher The9 recently bought another Blizzard spinoff, Red 5 Studios, for $15 million, and Japanese firm DeNA picked up iOS developer ngmoco for $400 million as well. Western audiences are big, but Eastern audiences are bigger and, as a result, there's high demand for well-developed games in that market.
Reports: Chinese online giant Tencent acquires majority stake in Riot Games
China's biggest Internet company, Tencent, has reportedly acquired a majority stake in Los Angeles-based Riot Games for the sum of $350 million. Tencent has already acquired a number of other Western properties, including Crytek's free-to-play FPS and Take-Two's NBA 2K Online, and also runs the QQ messaging service, boasting over 600 million-plus users. Riot makes League of Legends, the free-to-play DotA-style multiplayer title, and has said it will stay in Los Angeles and continue to "aggressively" hire through 2011. This deal likely won't affect the day-to-day of League of Legends (or any other titles Riot has under development), but given Tencent's contacts and assets in China, Riot will likely get a lot of help in spreading its games to players overseas. The transaction is still subject to regulatory measures, but is expected to close within 30 days.
Logitech plans to acquire LifeSize Communications, coming soon to a boardroom near you
There's a good chance you've owned a Logitech webcam at some point in your life, and if all goes according to plan your company's executives might soon be buying them, too. Logitech has announced intent to acquire LifeSize Communications, makers of high-end, high-def video-conferencing systems that primarily find themselves installed at one end of long, richly stained tables, flanked by tall leather chairs and positioned such that the CEO can gesture vaguely toward the camera and proudly say how expensive it was without actually knowing how to use it. If approved, the $405 million deal will put Logitech in competition with industry stalwarts like Polycom and Cisco, creating a no-holds-barred rumble for boardroom domination that will leave no golden parachute untouched.
GameFly purchases Shacknews
Online game rental service GameFly has purchased Shacknews and its related websites, including FileShack. Shacknews announced GameFly plans to maintain the sites and even bolster with "additional resources." With an understanding that recent takeovers of beloved editorial institutions haven't gone so well, GameFly's co-founder, Sean Spector, states that the rental service isn't "looking to twist and turn the site into something else."It's certainly an interesting move for the rental service to buy an editorial outlet and talk expansion, especially in this economy. Then again, GameFly's business doesn't seem to be hurting, as it continues to expand its rental service with a new distribution center in Seattle. In the words of a very wise book: Don't Panic.[Thanks to everyone who sent this in.]
FTC clears Verizon acquisition of Alltel, last hurdle crossed
It's already made it past the Department of Justice and the FCC after making a few concessions, and Verizon has now cleared the last major hurdle blocking its acquisition of Alltel, with the Federal Trade Commission today giving the deal its all-important stamp of approval. Unlike the other regulatory agencies, the FTC apparently didn't require that Verizon make any further concessions, and instead simply approved an early termination of their antitrust review and indicated that they had "no objections." For those keeping track, the deal easily pushes Verizon past AT&T to become the largest wireless carrier in the United States and, as we have heard, it'll also likely have the side effect of some job cuts from the Alltel benches.[Via RCR Wireless]
