Tag - Charter
Time Warner Cable has become the subject of another acquisition, barely a month after the attempted merger between TWC and Comcast failed. This time, Charter is the potential suitor to the cable company, with it providing $100 in cash and half a share of the "New Charter" parent company in exchange for each TWC share, a price that effectively values Time Warner Cable at approximately $55 billion.
A city council has declared it does not want Comcast to provide service to its residents. The council of Worcester, MA has voted against the transfer of the city's cable license from Charter to Comcast over the cable giant's "substandard consumer service practices," as well as believing it lacks the management experience to maintain the service for the region.
Comcast and Time Warner Cable have jumped at least two hurdles on their way to merging into one company. This week the majority of Comcast and Time Warner Cable shareholders voted to approve the deal for the merger. However, it appears that another problem has surfaced with the government of second-largest city that Time Warner Cable serves.
After receiving a lengthy responses from Comcast and Time Warner Cable and several other factors, the Federal Communications Commission (FCC) decided to extend the "Replies to Responses and Oppositions" period for the proposed Comcast-Time Warner Cable merger. The period, which was originally scheduled to end October 8, is now extended to October 29. As a result, the FCC has paused its 180-day "shot clock" for transaction reviews.
Comcast Corporation and Charter Communications today announced that the companies have reached an agreement on a series of transactions that will see the Comcast-Time Warner Cable merger divest approximately 3.9 million customers. The sale is part of the terms of the deal, where Comcast has agreed to cede a portion of its subscriber so that its total is less than 30 percent of total cable company subscribers overall.
Just a few short days after Comcast's hearing on Capital Hill, Charter Communications is said to be evaluating the notion of starting a bidding war for Time Warner Cable against Comcast. Potentially at stake are the subscribers that Comcast has promised to divest should the merger take place -- worth hundreds of millions of dollars annually.
Reports of a finalized deal between Time Warner Cable and Comcast have begun to circulate. According to CNBC reporter David Faber, Comcast will be offering $159 per share to purchase Time Warner Cable. Any deal would be subject to Federal Communications scrutiny, and would likely take over a year to finalize.
Charter Communications today tendered an buyout plan to Time Warner Cable, offering about $132.50 a share. The deal values Time Warner Cable at $61 billion, and offers $83 in cash per share, and $49.50 in Charter stock to shareholders, making it the third-largest deal for any global company since 2009.
Very soon after Cisco sued TiVo to challenge TiVo's claims to patents used in DVRs, TiVo has gone ahead and sued Cisco back. According to a Tuesday report, there are four patents in contention and TiVo is involved in several lawsuits against a number of companies that bought the allegedly offending DVRs from Cisco. Cisco's Scientific Atlanta arm sells boxes to cable providers that include AT&T, Time Warner Cable, and Verizon Communications.
A report issued today by the Federal Communications Commission shows broadband speeds in the U.S. are now significantly closer to what Internet service providers advertise than they were in 2009. The report found that actual download speeds provided by the majority of U.S. broadband providers were within 80 percent or better of companies' advertised speeds. In 2009, download speeds were more often around 50 percent of the advertised rate.
Now AAPL Stock: 109.9 ( + 0.41 )
Cirrus creates Lightning-headphone dev kit
Apple supplier Cirrus Logic has introduced a MFi-compliant new development kit for companies interested in using Cirrus' chips to create Lightning-based headphones, which -- regardless of whether rumors about Apple dropping the analog headphone jack in its iPhone this fall -- can offer advantages to music-loving iOS device users. The kit mentions some of the advantages of an all-digital headset or headphone connector, including higher-bitrate support, a more customizable experience, and support for power and data transfer into headphone hardware. Several companies already make Lightning headphones, and Apple has supported the concept since June 2014. http://bit.ly/29giiZj
Apple Store app offers Procreate Pocket
The Apple Store app for iPhone, which periodically rewards users with free app gifts, is now offering the iPhone "Pocket" version of drawing app Procreate for those who have the free Apple Store app until July 28. Users who have redeemed the offer by navigating to the "Stores" tab of the app and swiping past the "iPhone Upgrade Program" banner to the "Procreate" banner have noted that only the limited Pocket (iPhone) version of the app is available free, even if the Apple Store app is installed and the offer redeemed on an iPad. The Pocket version currently sells for $3 on the iOS App Store. [32.4MB]
Porsche adds CarPlay to 2017 Panamera
Porsche has added a fifth model of vehicle to its CarPlay-supported lineup, announcing that the 2017 Panamera -- which will arrive in the US in January -- will include Apple's infotainment technology, and be seen on a giant 12.3-inch touchscreen as part of an all-new Porsche Communication Management system. The luxury sedan starts at $99,900 for the 4S model, and scales up to the Panamera Turbo, which sells for $146,900. Other vehicles that currently support CarPlay include the 2016 911 and the 2017 models of Macan, 718 Boxster, and 718 Cayman. The company did not mention support for Google's corresponding Android Auto in its announcement. http://bit.ly/295ZQ94
Apple employees testing wheelchair features
New features included in the forthcoming watchOS 3 are being tested by Apple retail store employees, including a new activity-tracking feature that has been designed with wheelchair users in mind. The move is slightly unusual in that, while retail employees have previously been used to test pre-release versions of OS X and iOS, this marks the first time they've been included in the otherwise developer-only watchOS betas. The company is said to have gone to great lengths to modify the activity tracker for wheelchair users, including changing the "time to stand" notification to "time to roll" and including two wheelchair-centric workout apps. http://bit.ly/2955JDa
SanDisk reveals two 256GB microSDXC cards
SanDisk has introduced two 256GB microSDXC cards. Arriving in August for $150, the Ultra microSDXC UHS-I Premium Edition card offers transfer speeds of up to 95MB/s for reading data. The Extreme microSDXC UHS-I card can read at a fast 100MB/s and write at up to 90MB/s, and will be shipping sometime in the fourth quarter for $200. http://bit.ly/294Q1If
Apple's third-quarter results due July 26
Apple has advised it will be issuing its third-quarter results on July 26, with a conference call to answer investor and analyst queries about the earnings set to take place later that day. The stream of the call will go live at 2pm PT (5pm ET) via Apple's investor site, with the results themselves expected to be released roughly 30 minutes before the call commences. Apple's guidance for the quarter put revenue at between $41 billion and $43 billion. http://apple.co/1oi1Pbm
Twitter stickers slowly roll out to users
Twitter has introduced "stickers," allowing users to add extra graphical elements to their photos before uploading them to the micro-blogging service. A library of hundreds of accessories, props, and emoji will be available to use as stickers, which can be resized, rotated, and placed anywhere on the photograph. Images with stickers will also become searchable with viewers able to select a sticker to see how others use the same graphic in their own posts. Twitter advises stickers will be rolling out to users over the next few weeks, and will work on both the mobile apps and through the browser. http://bit.ly/29bbwUE