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Jun 19, 2013

Dish abandons Sprint bid for now to focus on Clearwire

NEW YORK (Reuters) – Dish Network Corp said it would not make a new offer to buy No. 3 U.S. wireless provider Sprint Nextel in time for a Tuesday deadline and would instead focus on its tender offer for Clearwire Corp.

The decision may be good news for Japan’s SoftBank Corp, which is also trying to buy Sprint. A purchase by SoftBank could provide Sprint with access to more capital that it could use to beef up its network and compete better.

Jun 13, 2013

Gannett surges to five-year high on deal to expand TV reach

By Sinead Carew and Liana B. Baker

(Reuters) – Gannett Co Inc (GCI.N: Quote, Profile, Research) shares soared 27 percent to a five-year high after the largest U.S. newspaper chain struck a $1.5 billion (955.8 million pounds) deal for television company Belo Corp (BLC.N: Quote, Profile, Research), dramatically increasing TV’s importance to Gannett’s results.

Gannett’s surge nearly equalled the entire purchase price, an unusual move for the buyer in a takeover. Analysts said it would probably mean a richer valuation for the company, and might spur buyout interest in peer companies with local TV assets.

Jun 13, 2013

Gannett to expand in TV with $1.5 billion Belo purchase

By Sinead Carew and Ben Berkowitz

(Reuters) – Gannett Co Inc, the largest U.S. newspaper chain, said it will pay $1.5 billion for television company Belo Corp, adding a stable of faster-growing TV assets that will offset the company’s newspaper businesses.

The deal would nearly double Gannett’s broadcasting holdings, making it the fourth-largest U.S. owner of major network affiliates, reaching nearly one-third of U.S. households, the company said on Thursday.

Jun 12, 2013

Clearwire urges shareholders to accept Dish offer

NEW YORK (Reuters) – Clearwire Corp’s (CLWR.O: Quote, Profile, Research, Stock Buzz) board urged shareholders on Wednesday to accept a tender offer from Dish Network Corp (DISH.O: Quote, Profile, Research, Stock Buzz) over an earlier deal with majority owner Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz) to buy out the minority shareholders of the wireless service provider.

The decision was a boost for Dish Chairman Charlie Ergen who is also in a takeover battle with SoftBank Corp (9984.T: Quote, Profile, Research, Stock Buzz) to take full control of Sprint.

Jun 12, 2013

Cisco sees new product raising core router revenue to $10 billion

NEW YORK (Reuters) – Cisco Systems Inc predicts that a new product it unveiled on Wednesday will increase its cumulative revenue from core routers, which direct Internet data traffic, by 25 percent – to $10 billion – within the next two years.

The leading network equipment maker expects to cash in on ever increasing demand for Internet services with its new CRS-X router, its third in the CRS product series.

Jun 11, 2013

SoftBank raises Sprint offer, wins key shareholder support

TOKYO/NEW YORK (Reuters) – Japanese mobile operator SoftBank Corp said it agreed with Sprint Nextel Corp to raise its offer for the U.S. wireless carrier to $21.6 billion from $20.1 billion, as it fights off a counter bid by Dish Network Corp.

SoftBank’s amended offer, Japan’s biggest outbound deal, won the backing of hedge fund Paulson & Co, Sprint’s second-biggest shareholder, which had earlier supported the Dish bid. Paulson said it would vote all its shares in favor of SoftBank’s improved offer.

Jun 7, 2013

Ontario Teachers to vote for SoftBank/Sprint deal

NEW YORK (Reuters) – The Ontario Teachers Pension Plan, the fifteenth biggest shareholder in Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz), said on Friday it intends to vote for SoftBank Corp’s (9984.T: Quote, Profile, Research, Stock Buzz) plan to buy 70 percent of Sprint for $20.1 billion.

The pension plan owned 40.2 million shares, or 1.33 percent, of Sprint, according to the latest publicly available information.

Jun 6, 2013

NSA is collecting phone records of Verizon customers: report

SAN FRANCISCO/NEW YORK (Reuters) – The U.S. National Security Agency is collecting telephone records of millions of Verizon Communications customers, according to a secret court order obtained and published by the Guardian newspaper’s website.

The order marked “Top Secret” and issued by the U.S. Foreign Intelligence Surveillance Court directs Verizon’s Business Network Services Inc and Verizon Business Services units to hand over electronic data including all calling records on an “ongoing, daily basis” until the order expires on July 19, 2013.

Jun 6, 2013

U.S. NSA is collecting phone records of Verizon customers -report

SAN FRANCISCO/NEW YORK, June 5 (Reuters) – The U.S. National
Security Agency is collecting telephone records of millions of
Verizon Communications customers, according to a secret
court order obtained and published by the Guardian newspaper’s
website.

The order marked “Top Secret” and issued by the U.S. Foreign
Intelligence Surveillance Court directs Verizon’s Business
Network Services Inc and Verizon Business Services units to hand
over electronic data including all calling records on an
“ongoing, daily basis” until the order expires on July 19, 2013.

Jun 5, 2013

Glass Lewis tells investors to hold off on Sprint-SoftBank vote

NEW YORK (Reuters) – Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz) shareholders should not vote on SoftBank Corp’s (9984.T: Quote, Profile, Research, Stock Buzz) takeover bid on June 12 as Dish Network’s (DISH.O: Quote, Profile, Research, Stock Buzz) rival $25.5 billion offer was still being reviewed, proxy advisory firm Glass Lewis said on Tuesday.

Dish’s proposal “appears to be a bona fide offer from an interested and capable third-party” and is potentially superior to SoftBank’s $20.1 billion bid to buy 70 percent of Sprint, the firm said.

    • About Sinead

      "Sinead is a telecommunications industry correspondent. Her coverage area spans U.S. service providers, cellphone makers and chip makers. Before joining Reuters in 2002, she covered technology and telecoms for various trade publications."
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