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Digital Chocolate buys Sandlot Games
Mobile game developer Digital Chocolate, one of the biggest developers on the App Store, has acquired Sandlot Games, makers of Cake Mania and a few other popular App Store titles. Sandlot has offices in Seattle and Eastern Europe, and Digital Chocolate says it plans to use the developer to expand operations in both places. Unfortunately, there's no word on how much the deal is worth. Both companies have seen plenty of app downloads, and have big titles on multiple platforms, including Apple's devices and the PC, so this is likely a substantial acquisition for both sides. As Digital Chocolate's Trip Hawkins says, "We expect to be the leading game company in at least 5 of the 7 cities where we now have development studios." That said, I don't think this is the last we'll hear of either company. This space is extremely volatile at the moment, and it's just as likely that we'll see Digital Chocolate pick up more developers as it is that we'll see a larger company buy out the whole company if so inclined. [via Touch Arcade]
Perfect World Entertainment completes acquisition of Cryptic Studios
A couple of months back, we announced that Atari was in the court to sell off Cryptic Studios, and that Perfect World Entertainment had stepped up to the plate to take the studio off Atari's hands. Well, as of now, the sale is complete and Cryptic is now firmly in the grasp of free-to-play leviathan Perfect World Entertainment. According to reports, the sale cost Perfect World a staggering $49.8 million, and $30.7 is said to be going straight toward paying off Atari's existing debt. As for the projects Cryptic was previously working on -- namely Star Trek Online, Champions Online, and the upcoming Neverwinter -- it remains to be seen what will happen, but you can be sure we'll bring you the latest as soon as we get word.
Disney looking to buy out Faxion Online developer
Disney could become a major player in the future of Faxion Online if it goes ahead with a proposed deal to buy out the rest of UTV Software Communications' stock. Currently, Disney has a majority stake in the company -- 50.4% -- but this move would bring it up to a nice round 100%. The Ignition Entertainment label would fall under this deal, which has already been struggling with numerous layoffs and studio closings. We recently reported that UTV Ignition had to cut a good portion of its programming, maintenance, and customer service staff as part of these problems. Whether or not this deal will prove a boon or a hammer blow to Ignition remains to be seen. Disney has previously closed down developers Black Rock and Propaganda Games, although Mickey's parent company is looking to move in the direction of more social and casual gaming. We'll keep a close eye on this deal to see how it plays out.
Nokia Siemens Networks chooses a suitor: its own shareholders
A lot of marriages hit rough patches from time to time, and it's no different for companies and their shareholders. The last three months have likely been especially tumultuous for Nokia Siemens Networks as it played the field, conducting a review to assess potential private equity interest. In the end, however, NSN determined the grass was indeed greener on its own side. According to the press release (found after the break), it concluded that "the current shareholders are in the best position to further enhance the value of the company." Given that NSN's reported three successive quarters of year-on-year growth, the troubled relationship appears to be out of hot water for now -- we just hope the shareholders are willing to kiss and make up.
Hulu rumored to be considering a sale after receiving an offer from... Yahoo?
This afternoon rumors rapidly spread that an unnamed company had offered to purchase Hulu from its media giant owners, and now the LA Times Company Town blog has fingered that entity as Yahoo. According to the initial Wall Street Journal report, the offer received was not solicited, but it has caused the board to consider soliciting offers from other companies. The last time CEO Jason Kilar checked in he was looking forward to breaking one million Hulu Plus subscribers, now we're wondering which giant may be first in line to snap the streaming site up and add its content licenses to their warchest. Whatever happens, the newly formed NBCUniversal conglomerate won't have a say in it after forfeiting its board seats to get the merger approved. Drop in your wildly speculative commentary below -- rumors including YouTube, iTunes, Xbox, or some insane Spotify rumor you just made up, we're willing to listen to them all.
TweetDeck and Twitter, together at last
We've been hearing rumors for a while that Twitter was looking to make TweetDeck a member of its flock, and now, the blue bird crew has made it official. All Things D reports that the deal was done for between $40 to 50 million, and that TweetDeck CEO Iain Dodsworth will stay on to run the platform. In its official announcement, Twitter said it will continue to "invest in the TweetDeck that users know and love" -- time will tell if the new boss birdie is a boon or bane for the popular tweet tracking app.
EA iOS revenues up 100%, Firemint mentioned
EA held a conference call yesterday to talk about the past year's revenues, and it's no surprise that the mobile division is doing great. The mobile revenue total was $70 million for the last quarter, up 27 percent from the same period last year. It doesn't sound like things were quite as busy as the holiday season that set records recently, but iOS and its mobile counterparts are definitely a moneymaker for the big traditional gaming company. iOS specifically, says EA, is up "over 100 percent" in revenues from the previous year. And that even compares favorably to the more traditional handheld consoles -- the DS brought in $28 million, and PSP picked up $16 million, both sizable numbers, but lower than the mobile total for sure. The recent Firemint acquisition was also mentioned during the call, but only tangentially. Eric Brown didn't mention the actual purchase price, but he did say that "overall on price, it's less than $25 million." He also called the deal "a great pick up, and we're super excited to have that talented team join EA." EA is definitely building quite the mobile powerhouse.
FCC opens floor for public comment on AT&T / T-Mobile deal
Since the world's engineers haven't yet come up with a way to read minds over the internet (or at all, last we checked), we're not sure what you think about the proposed marriage of T-Mobile to AT&T. We're pretty sure you do have an opinion of some sort, though, and if you want it to be heard, now's the opportunity to let the Federal Communications Commission read your thoughtful, reasoned take on how a GSM monopoly in the United States might or might not work. (Speak now or forever hold your peace, in other words.) To comment, simply visit the source links below, where the FCC has some handy forms -- one for short comments, one for long comments (where you have to attach a PDF document) and one with the magic number of the related proceeding, which is 11-65. Let 'em know just how you'll be impacted if the deal goes through, for better or for worse. [Thanks, Jeff]
Sprint critiques proposed AT&T / T-Mobile deal, says buyout would 'dramatically alter' telecom industry
This afternoon, AT&T and T-Mobile dedicated a twenty-eight page PDF to convincing regulators that their $39 billion aquisition wouldn't violate antitrust law, using images like the one above. Well, as you can imagine, Sprint had something to say about that, and you can read it immediately below. The combination of AT&T and T-Mobile USA, if approved by the Department of Justice (DOJ) and Federal Communications Commission (FCC), would alter dramatically the structure of the communications industry. AT&T and Verizon are already by far the largest wireless providers. A combined AT&T and T-Mobile would be almost three times the size of Sprint, the third largest wireless competitor. If approved, the merger would result in a wireless industry dominated overwhelmingly by two vertically-integrated companies that control almost 80% of the US wireless post-paid market, as well as the availability and price of key inputs such as backhaul and access needed by other wireless companies to compete. The DOJ and the FCC must decide if this transaction is in the best interest of consumers and the US economy overall, and determine if innovation and robust competition would be impacted adversely and by this dramatic change in the structure of the industry.Last week, rumors flew that Sprint, not AT&T, would be the one to join T-Mobile and create a vast wireless network, and while we haven't heard any proof of that so far, it probably wouldn't be terribly happy to settle for "number 1 spectrum position" if the tables were indeed turned.
AT&T to buy T-Mobile USA for $39 billion
Reports are coming in from all over this morning that AT&T has bought fellow domestic cell carrier T-Mobile USA. According to the press release, AT&T will acquire the company from Germany's Deutsche Telekom AG in a deal that's valued at $39 billion in cash and stock. The transaction is expected to close within a year, pending all of the usual paperwork and, of course, regulatory approval (which probably isn't a complete given, considering how large these two companies are). The primary impact of a deal like this will be to set up AT&T with one of the largest cellular networks in the US. AT&T's announcement pointed out that the company's data traffic grew 8,000 percent over the past four years, with the expectation that it will increase by another order of magnitude between 2010 and 2015; with the addition of the T-Mobile spectrum and cell infrastructure, AT&T will be in much better shape to handle the onslaught of high-demand users and devices. Of course, AT&T's long-suffering iPhone users have something else to look forward to when the deal closes: more consistent wireless coverage and better voice service. Per the press release: "AT&T and T-Mobile USA customers will see service improvements - including improved voice quality - as a result of additional spectrum, increased cell tower density and broader network infrastructure. At closing, AT&T will immediately gain cell sites equivalent to what would have taken on average five years to build without the transaction, and double that in some markets. The combination will increase AT&T's network density by approximately 30 percent in some of its most populated areas, while avoiding the need to construct additional cell towers." Increased network density in some of the biggest iPhone trouble spots (large urban areas like NYC, San Francisco, etc.) may finally bring AT&T's coverage consistency up to where it needs to be. AT&T is also committing to a massive 4G buildout onto the former T-Mobile network alongside the legacy AT&T buildout, adding about 47 million phone users under the anticipated 4G footprint (4G LTE service would cover about 95 percent of the US population under the buildout plan). This might lead us to a 4G iPhone on the combined GSM network of the future. Of course, that's all speculation at this point, but with Verizon now carrying the iPhone as well, the pressure will probably be on Apple to make a phone compatible with the next generation networks that all of the carriers are crowing about. As always, we'll see. Thanks to Ryan Block & everyone who sent this in. Press release below: Show full PR text AT&T to Acquire T-Mobile USA from Deutsche Telekom Provides Fast, Efficient and Certain Solution to Impending Spectrum Exhaust Challenges Facing AT&T and T-Mobile USA in Key Markets Due to Explosive Demand for Mobile Broadband Enhances Network Capacity, Output and Quality in Near Term for Both Companies' Customers AT&T Commits to Expand 4G LTE Deployment to an Additional 46.5 Million Americans, Including in Rural, Smaller Communities, for a Total of 294 Million or 95% of the U.S. Population Provides 4G LTE Service for T-Mobile USA's 34 Million Subscribers More Than $8 Billion in Incremental Infrastructure Spend by a U.S. Company over Seven Years, Enabling Nation's High-Tech Industry, Innovation and Economic Growth Creates Substantial Value for AT&T Shareholders Through Large, Straightforward Synergies DALLAS & BONN, Germany--(BUSINESS WIRE)--AT&T Inc. (NYSE: T) and Deutsche Telekom AG (FWB: DTE) today announced that they have entered into a definitive agreement under which AT&T will acquire T-Mobile USA from Deutsche Telekom in a cash-and-stock transaction currently valued at approximately $39 billion. The agreement has been approved by the Boards of Directors of both companies. "This transaction represents a major commitment to strengthen and expand critical infrastructure for our nation's future" AT&T's acquisition of T-Mobile USA provides an optimal combination of network assets to add capacity sooner than any alternative, and it provides an opportunity to improve network quality in the near term for both companies' customers. In addition, it provides a fast, efficient and certain solution to the impending exhaustion of wireless spectrum in some markets, which limits both companies' ability to meet the ongoing explosive demand for mobile broadband. With this transaction, AT&T commits to a significant expansion of robust 4G LTE (Long Term Evolution) deployment to 95 percent of the U.S. population to reach an additional 46.5 million Americans beyond current plans – including rural communities and small towns. This helps achieve the Federal Communications Commission (FCC) and President Obama's goals to connect "every part of America to the digital age." T-Mobile USA does not have a clear path to delivering LTE. "This transaction represents a major commitment to strengthen and expand critical infrastructure for our nation's future," said Randall Stephenson, AT&T Chairman and CEO. "It will improve network quality, and it will bring advanced LTE capabilities to more than 294 million people. Mobile broadband networks drive economic opportunity everywhere, and they enable the expanding high-tech ecosystem that includes device makers, cloud and content providers, app developers, customers, and more. During the past few years, America's high-tech industry has delivered innovation at unprecedented speed, and this combination will accelerate its continued growth." Stephenson continued, "This transaction delivers significant customer, shareowner and public benefits that are available at this level only from the combination of these two companies with complementary network technologies, spectrum positions and operations. We are confident in our ability to execute a seamless integration, and with additional spectrum and network capabilities, we can better meet our customers' current demands, build for the future and help achieve the President's goals for a high-speed, wirelessly connected America." Deutsche Telekom Chairman and CEO René Obermann said, "After evaluating strategic options for T-Mobile USA, I am confident that AT&T is the best partner for our customers, shareholders and the mobile broadband ecosystem. Our common network technology makes this a logical combination and provides an efficient path to gaining the spectrum and network assets needed to provide T-Mobile customers with 4G LTE and the best devices. Also, the transaction returns significant value to Deutsche Telekom shareholders and allows us to retain exposure to the U.S. market." As part of the transaction, Deutsche Telekom will receive an equity stake in AT&T that, based on the terms of the agreement, would give Deutsche Telekom an ownership interest in AT&T of approximately 8 percent. A Deutsche Telekom representative will join the AT&T Board of Directors. Competition and Pricing The U.S. wireless industry is one of the most fiercely competitive markets in the world and will remain so after this deal. The U.S. is one of the few countries in the world where a large majority of consumers can choose from five or more wireless providers in their local market. For example, in 18 of the top 20 U.S. local markets, there are five or more providers. Local market competition is escalating among larger carriers, low-cost carriers and several regional wireless players with nationwide service plans. This intense competition is only increasing with the build-out of new 4G networks and the emergence of new market entrants. The competitiveness of the market has directly benefited consumers. A 2010 report from the U.S. General Accounting Office (GAO) states the overall average price (adjusted for inflation) for wireless services declined 50 percent from 1999 to 2009, during a period which saw five major wireless mergers. Addresses wireless spectrum challenges facing AT&T, T-Mobile USA, their customers, and U.S. policymakers This transaction quickly provides the spectrum and network efficiencies necessary for AT&T to address impending spectrum exhaust in key markets driven by the exponential growth in mobile broadband traffic on its network. AT&T's mobile data traffic grew 8,000 percent over the past four years and by 2015 it is expected to be eight to 10 times what it was in 2010. Put another way, all of the mobile traffic volume AT&T carried during 2010 is estimated to be carried in just the first six to seven weeks of 2015. Because AT&T has led the U.S. in smartphones, tablets and e-readers – and as a result, mobile broadband – it requires additional spectrum before new spectrum will become available. In the long term, the entire industry will need additional spectrum to address the explosive growth in demand for mobile broadband. Improves service quality for U.S. wireless customers AT&T and T-Mobile USA customers will see service improvements - including improved voice quality - as a result of additional spectrum, increased cell tower density and broader network infrastructure. At closing, AT&T will immediately gain cell sites equivalent to what would have taken on average five years to build without the transaction, and double that in some markets. The combination will increase AT&T's network density by approximately 30 percent in some of its most populated areas, while avoiding the need to construct additional cell towers. This transaction will increase spectrum efficiency to increase capacity and output, which not only improves service, but is also the best way to ensure competitive prices and services in a market where demand is extremely high and spectrum is in short supply. Expands 4G LTE deployment to 95 percent of U.S. population – urban and rural areas This transaction will directly benefit an additional 46.5 million Americans – equivalent to the combined populations of the states of New York and Texas – who will, as a result of this combination, have access to AT&T's latest 4G LTE technology. In terms of area covered, the transaction enables 4G LTE deployment to an additional 1.2 million square miles, equivalent to 4.5 times the size of the state of Texas. Rural and smaller communities will substantially benefit from the expansion of 4G LTE deployment, increasing the competitiveness of the businesses and entrepreneurs in these areas. Increases AT&T's investment in the U.S. The acquisition will increase AT&T's infrastructure investment in the U.S. by more than $8 billion over seven years. Expansion of AT&T's 4G LTE network is an important foundation for the next wave of innovation and growth in mobile broadband, ensuring the U.S. continues to lead the world in wireless technology and availability. It makes T-Mobile USA, currently a German-owned U.S. telecom network, part of a U.S.-based company. An impressive, combined workforce Bringing AT&T and T-Mobile USA together will create an impressive workforce that is best positioned to compete in today's global economy. Post-closing, AT&T intends to tap into the significant knowledge and expertise held by employees of both AT&T and T-Mobile USA to succeed. AT&T is the only major U.S. wireless company with a union workforce, offering leading wages, benefits, training and development for employees. The combined company will continue to have a strong employee and operations base in the Seattle area. Consistent with AT&T's track record of value-enhancing acquisitions AT&T has a strong track record of executing value-enhancing acquisitions and expects to create substantial value for shareholders through large, straightforward synergies with a run rate of more than $3 billion, three years after closing onward (excluding integration costs). The value of the synergies is expected to exceed the purchase price of $39 billion. Revenue synergies come from opportunities to increase smartphone penetration and data average revenue per user, with cost savings coming from network efficiencies, subscriber and support savings, reduced churn and avoided capital and spectrum expenditures. The transaction will enhance margin potential and improve the company's long-term revenue growth potential as it benefits from a more robust mobile broadband platform for new services. Additional financial information The $39 billion purchase price will include a cash payment of $25 billion with the balance to be paid using AT&T common stock, subject to adjustment. AT&T has the right to increase the cash portion of the purchase price by up to $4.2 billion with a corresponding reduction in the stock component, so long as Deutsche Telekom receives at least a 5 percent equity ownership interest in AT&T. The number of AT&T shares issued will be based on the AT&T share price during the 30-day period prior to closing, subject to a 7.5 percent collar; there is a one-year lock-up period during which Deutsche Telekom cannot sell shares. The cash portion of the purchase price will be financed with new debt and cash on AT&T's balance sheet. AT&T has an 18-month commitment for a one-year unsecured bridge term facility underwritten by J.P. Morgan for $20 billion. AT&T assumes no debt from T-Mobile USA or Deutsche Telekom and continues to have a strong balance sheet. The transaction is expected to be earnings (excluding non-cash amortization and integration costs) accretive in the third year after closing. Pro-forma for 2010, this transaction increases AT&T's total wireless revenues from $58.5 billion to nearly $80 billion, and increases the percentage of AT&T's total revenues from wireless, wireline data and managed services to approximately 80 percent. This transaction will allow for sufficient cash flow to support AT&T's dividend. AT&T has increased its dividend for 27 consecutive years, a matter decided by AT&T's Board of Directors. Conditions The acquisition is subject to regulatory approvals, a reverse breakup fee in certain circumstances, and other customary regulatory and other closing conditions. The transaction is expected to close in approximately 12 months. Advisors Greenhill & Co., J.P. Morgan and Evercore Partners acted as financial advisors and Sullivan & Cromwell LLP, Arnold & Porter, and Crowell & Moring provided legal advice to AT&T. Conference Call/Webcast On Monday, March 21, 2011, at 8 a.m. ET, AT&T Inc. will host a live video and audio webcast presentation regarding its announcement to acquire T-Mobile USA. Links to the webcast and accompanying documents will be available on AT&T's Investor Relations website. Please log in 15 minutes ahead of time to test your browser and register for the call. For dial-in access, please dial +1 (888) 517-2464 within the U.S. or +1 (630) 827-6816 outside the U.S. after 7:30 a.m. ET. Enter passcode 8442095# to join or ask the conference call operator for the AT&T Investor Relations event. The webcast will be available for replay on AT&T's Investor Relations website on March 21, 2011, starting at 12:30 p.m. ET through April 21, 2011. An archive of the conference call will also be available during this time period. To access the recording, please dial +1 (877) 870-5176 within the U.S. or +1 (858) 384-5517 outside the U.S. and enter reservation code 29362481#. Transaction Website For more information on the transaction, including background information and factsheets, visit www.MobilizeEverything.com. About AT&T AT&T Inc. (NYSE:T) is a premier communications holding company. Its subsidiaries and affiliates – AT&T operating companies – are the providers of AT&T services in the United States and around the world. With a powerful array of network resources that includes the nation's fastest mobile broadband network, AT&T is a leading provider of wireless, Wi-Fi, high speed Internet, voice and cloud-based services. A leader in mobile broadband and emerging 4G capabilities, AT&T also offers the best wireless coverage worldwide of any U.S. carrier, offering the most wireless phones that work in the most countries. It also offers advanced TV services under the AT&T U-verse® and AT&T │DIRECTV brands. The company's suite of IP-based business communications services is one of the most advanced in the world. In domestic markets, AT&T Advertising Solutions and AT&T Interactive are known for their leadership in local search and advertising. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com. This AT&T news release and other announcements are available at http://www.att.com/newsroom and as part of an RSS feed at www.att.com/RSS. Or follow our news at @ATT. About Deutsche Telekom Deutsche Telekom is one of the world's leading integrated telecommunications companies with around 129 million mobile customers, approximately 36 million fixed-network lines and more than 16 million broadband lines (as of December 31, 2010). The Group provides products and services for the fixed network, mobile communications, the Internet and IPTV for consumers, and ICT solutions for business customers and corporate customers. Deutsche Telekom is present in over 50 countries and has around 247,000 employees worldwide. The Group generated revenues of EUR 62.4 billion in the 2010 financial year - more than half of it outside Germany (as of December 31, 2010). About T-Mobile USA Based in Bellevue, Wash., T-Mobile USA, Inc. is the U.S. wireless operation of Deutsche Telekom AG. By the end of the fourth quarter of 2010, approximately 129 million mobile customers were served by the mobile communication segments of the Deutsche Telekom group - 33.7 million by T-Mobile USA - all via GSM and UMTS, the world's most widely used digital wireless standards. Today, T-Mobile operates America's largest 4G network, and is delivering a compelling 4G experience across a broad lineup of leading devices in more places than competing 4G services. T-Mobile USA's innovative wireless products and services empower and enable people to stay connected and productive while mobile. Multiple independent research studies continue to rank T-Mobile USA as a leader in customer care and customer satisfaction. For more information, please visit http://www.T-Mobile.com. T-Mobile is a federally registered trademark of Deutsche Telekom AG. For further information on Deutsche Telekom, please visit www.telekom.de/investor-relations. Cautionary Language Concerning Forward-Looking Statements Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. In addition to these factors, there are risks and uncertainties associated with the T-Mobile business, the pendency of the T-Mobile acquisition and the ability to realize the benefits of the integration of the T-Mobile business. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise. This news release may contain certain non-GAAP financial measures. Reconciliations between the non-GAAP financial measures and the GAAP financial measures are available on the company's website at www.att.com/investor.relations.
T-Mobile CEO Philipp Humm issues non-denying non-confirmation of Sprint buyout discussions
Did last week's rumors of a T-Mobile merger with Sprint leave you wondering what color you'd get if you mixed magenta with yellow? T-Mo CEO Philipp Humm has stopped short of digging out his mixing tool to show you, but neither is he denying that such a mix-up could happen. His memo, sent to company employees and summarily leaked to the world, says that parent company Deutsche Telekom "will always explore options for maximizing the value of its portfolio and profits." However, he doesn't indicate exactly which avenues DT is exploring to find those profits.
Rovio picks up $42 million in first funding round
Rovio, the makers of Angry Birds, has nabbed a total of $42 million in a first round of venture capitalist funding. This isn't necessarily quite that big a payday for the company -- while that's obviously a lot of money, the company has reportedly already pulled in about $70 million from app sales and the various licensing money it's been making off of those frustrated flyers and their grunty pig counterparts. But what this does mean is that any company looking to buy Rovio will have a tougher time of it, since the Finnish mobile game developer is now worth that much more. Of course, going from what I saw of Rovio's Peter Vesterbacka at last week's GDC conference, I strongly doubt the company wants to be bought anyway. Vesterbacka seems to believe that Angry Birds is more or less vindication for the other fifty games his company made before it, and he's interested in having Rovio ride this franchise for as long as it will carry them. It's possible Rovio could get acquired (if the check gets big enough), but since Vesterbacka believes there's a lot more to do with Angry Birds, my guess is he'll use the money he's already put together to stay his own company.
Gamigo buys Black Prophecy, buys into Reakktor Media
When it comes to free-to-play games, we don't often see the licensing companies buying titles outright. Normally, we're prone to seeing licensing agreements until a game has launched or when two companies have a history of working together quite a lot. Nonetheless, today gamigo proved that it really believes in how much players are going to enjoy its upcoming space dogfighter, Black Prophecy, by buying all rights and trademarks related to the game from Reakktor Media. The other interesting piece of news is that at the same time as the Black Prophecy acquisition, gamigo also opted to pick up nearly 20% of Reakktor Media. All remaining shares of Reakktor Media remain under the control of the company's CEO, Kirk Lenke, which effectively puts all development control moving forward between Reakktor and gamigo. If you really don't care about corporate merges and buyouts, then there's still a nugget of news to be gleaned for you. In amongst all the happy congratulations and notes about how this will make things better and easier for the two companies was a note that we should "[look] forward to seeing Black Prophecy go live in the very near future." (Emphasis theirs.) Whether it will simply mark open beta or something more, we'll have to wait and see.
FCC approves Comcast's purchase of NBC (Update: Justice Department too, it's done)
No huge surprise here, but the FCC just approved Comcast's purchase of NBC Universal by a 4-1 vote. Details of the ruling aren't out yet, but FCC chairman Julius Genachowski had been pushing for strong regulations forbidding Comcast from cutting itself sweetheart deals on NBC content or prioritizing its own video traffic on its pipes, so we'd assume that's part of the agreement here. The only nay vote was from Commissioner Michael Copps, who said the deal "opens the door to the cable-ization of the open Internet." Ouch. We'll let you know when we find out exactly what the FCC's actual conditions are -- and keep in mind this deal won't be wrapped until the Justice Department weighs in, which is expected to happen next week. Can we say it? Oh, we're going to say it: stay tuned! Update: That was fast, as Comcast/NBCU announced it's received permission from the Justice Department as well. Check out the triumphant press release after the break or scour the official site for more details on what conditions may have applied. There will also be a conference call at 4 p.m. so let us know what else you may be interested in finding out before then. So far details include a promise of a "focused mechanism for online video providers to obtain access to certain NBC Universal content," and that the newly formed entity will retain its economic stake in Hulu, while giving up its voting and board representation rights.
Panasonic's Sanyo and PEW buyout official: subsidiaries for life
Congratulations, Panasonic, you're now the adoptive father of two companies, Sanyo and Panasonic Electric Works. We know, the plan's been all but confirmed since July, but it's nice to see the deal go through and all the necessary paperwork signed. Both now-wholly-owned subsidiaries (through a share exchange that commenced today) are scheduled to be de-listed from the Tokyo Stock Exchange on March 29th, 2011, and after that... well, independence was fun while it lasted, eh chaps?
Xmarks finds new owner, isn't going anywhere
Look at that -- while I was sad to hear that my favorite bookmark syncing service Xmarks would be calling it quits after trying and failing to find a profitable business model, its users stepped in to support the service, and at the beginning of this month, Xmarks announced that it would be acquired by password manager LastPass without any interruption in service. That's great news; the basic syncing service will stay free, and there will now be two premium services available with the company. Premium membership in LastPass will get all of the password manager's features, and premium Xmarks service will enable priority support, syncing with mobile apps and more. Both services are available for US$12 each yearly, or $20 a year for the whole shebang. It sounds like this is a great deal for both companies, and together, the two services should be able to offer up some excellent features to customers both old and new. I'm just glad my current Xmarks service isn't dying; the browser add-ons let me share passwords and bookmarks across all of my Mac and PC browsers quickly and easily. Great to see that one of the most valuable sharing services I use has found a new lease on life. Thanks, Chris!
Report: Bizarre Creations staff morale boosted by buyer talks
Develop reports that anonymous staffers at recently put-on-the-market development studio Bizarre Creations have claimed that morale around the offices has received a boost following a company meeting earlier today. According to Develop's sources, that meeting brought word that a number of interested parties have surfaced who could possibly acquire Bizarre -- though the source didn't name any of those parties, for fear of scaring them away. See, big corporations? They're like baby deer when it comes to acquisitions. One of Develop's sources mentioned Microsoft as one of Bizarre's potential suitors. That might not be the smoothest transition, considering some of the harsh words Bizarre's higher-ups have said about their former relationship. You know whose loving arms we think they should run back to? 1996-era Psygnosis. Now, that there? That was a match made in heaven.
Panasonic to spend $9.4b on buying out Sanyo and PEW shares, posts robust quarterly profits
Clearly dissatisfied with what it sees in the mirror, Panasonic has today announced its decision to bulk up. A new share issue expected to raise ¥500 billion ($5.7 billion) will be enacted soon as part of raising the cash to complete the buyout of Sanyo Electric and Panasonic Electric Works. Don't ask us why a company named Panasonic has to buy another company with Panasonic in its name, but them's the facts. The total outlay is expected to come in at around $9.4 billion and is justified by Panasonic as fundamental to its future strategy of expanding into environmentally friendly tech and developing a three-pronged operating paradigm by 2012. The Osaka-based company is also reporting a ¥43.7b ($498 million) profit for the last quarter -- a major upswing from a ¥53b loss in the same period last year -- though that's information the market seems to have ignored. Panasonic shares have plunged down 7.7% in the immediate aftermath of the acquisitions being announced, while Sanyo's have shot up. Click past the break for the novella-sized press release explaining the details of the deal.
HP laying off some Palm staff as integration begins
It's not totally unexpected, but apparently HP is laying off some Palm staffers now that the buyout is official. We don't know exactly how many people are being let go, or in what departments -- it certainly makes sense for HP to trim away some administrative and support positions as it integrates Palm into its larger organization -- but there's no question that Palm's lost some key people ever since this turmoil began, and we're definitely curious to see who's left standing after these cuts. For what it's worth, Palm told All Things Digital that "part of the integration strategy is consolidation of functions and operations, as appropriate," and that "Palm employees overall are enthusiastic about having the financial stability and global scale necessary to complete their vision," so we've got hope -- after all, HP needs Palm just as much as Palm needs HP.
HP / Palm buyout officially complete -- get ready for webOS printers
It's only been a couple short months since HP announced its intentions to buy Palm, but apparently all the investors are happy and the lawyers are rich, because the two companies have just announced that the $1.2b transaction is official and the buyout is complete -- Palm is now part of HP. Yes, it's the end of an era -- Palm's been a part of the tech landscape in one confounding way or another since 1992 -- but it's also the start of what could potentially be a webOS renaissance, as HP plans to use Palm's ideas and OS on everything from smartphones (phew) to tablets to even printers. We still don't know exactly how Palm's people and structure will be folded into HP, or what exact role CEO Jon Rubinstein will play, but Palm's already lost some important people, and managing that transition while still keeping the product roadmaps on course will be the next great challenge for these two companies. Here's to the best -- now how about some of that rumored new hardware? P.S.- Now that things are official, we can't help but wonder about the fate of the HP Slate -- there have been rumors of its death since the buyout was announced, and HP's gone from crowing about it to total radio silence. We honestly don't know one way or another, but we'd sure love to find out.
