Tag - Liberty Media
Barnes and Noble finished Thursday with surprise word that it had received a buyout proposal from Liberty Media for about $17 per share, or almost $1 billion. The deal would require that Barnes & Noble chair Leonard Riggio stay in his executive position and keep his controlling stake. Officials stressed the notice wasn't an approval of the deal and said they would study it with the help of a legal advisor team.
DirecTV this morning said it would merge with the eventual spinoff of Liberty Entertainment from Liberty Media. The deal is meant to simplify Liberty Media's own structure but puts the satellite TV provider together with TV channels themselves, including the Game Show Network and 3 local sports stations. Executives at DirecTV will keep their positions, though the move will still have Liberty Media founder John Malone and trusts have about a 24 percent stake in the new venture.
After avoiding declaring bankruptcy last month, Sirius XM has announced plan to stream its subscription radio service to the iPhone and iPod touch this spring as part of the company's latest fiscal results conference call. The new app will let either Apple device receive Sirius or XM stations over their Internet connections without requiring a separate radio. Currently, Sirius has roughly 19 million subscribers, an improvement of about 10 percent from last year, but is being significantly slowed by plunging car sales and the absence of radios.
Sirius XM on Tuesday morning said it has agreed to give an equity stake to Liberty Media in a deal worth $530 million. Best known as the owner of the DirecTV satellite service, Liberty is offering a $280 million emergency loan to cover both an immediately due $172 million debt for Sirius XM and to cover related financial costs. An extra $150 million also goes specifically to the XM half of the satellite radio provider, while Liberty is further volunteering to pay off about $100 million of Sirius XM's existing loans.
Sirius XM on Friday took emergency steps to save itself by starting a debt exchange. The company says it has started a deal that will swap about $172.5 million of the convertible senior notes keeping the company afloat for equivalents that will expire at the start of June 2011. The exchange would give the company about 1.5 years of extra time to pay the portion of the debt, which would otherwise have come due in December this year.
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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