An offer from 21st Century Fox to buy Sky TV has sparked a major political row in the UK – as Rupert Murdoch makes his bid to reassert total control in the company. The billionaire media mogul was forced to take a step back from Sky in 2010 – following the phone hacking scandal. However, Murdoch who owns 21st Century Fox has now made a fresh offer of 18.5bn for Sky TV. The bid has seen shares in Sky TV…
Global transportation company Uber, have announced that it will purchase artificial intelligence group Geometric Intelligence in an effort to increase its research into self-driving car technology. It’s expected that the acquisition of the artificial intelligence company will form the core of Uber’s own research centre. The terms of the deal were not disclosed publicly, but it is believed that Uber will allow the fifteen employees of the New York start-up to form the base of Uber’s artificial intelligence efforts in…
On November 23, the UK’s Chancellor of the Exchequer, Philip Hammond, announced £1bn ($1.5bn) of funding to boost 5G and fiber connections in the country. Included in the Autumn Statement from Britain’s Treasury, the Chancellor said he wanted the ‘UK to be a world leader in 5G’. The UK will also be allocating £400m ($500m) for a Digital Infrastructure Investment Fund to accelerate the roll out of superfast internet. Viavi Solutions, a global provider of network test, monitoring and assurance…
American telecommunications giant Verizon has purchased the majority of assets from LQD WiFi LLC as part of its plans to fast track and accelerate its strategy to implement Smart City infrastructure across its platforms. LQD WiFi LLC is a private company based in New York and while the sum of the investment hasn’t been disclosed, it has been widely reported in some quarters to be a significant amount. Mike Lanman, senior vice president of Enterprise Products and IoT at Verizon,…

American media conglomerate invests $200m into BuzzFeed

Written on Wednesday, 23 November 2016 08:31
American multinational media company NBCUniversal has announced it is investing $200m into popular social media outlet BuzzFeed. BuzzFeed, which was founded by Jonah Peretti in 2006 – has become an incredible success since its inception a decade ago – and continues to grow on a daily basis. Its ability to engage audiences with a diverse range of content have made it a market leader for sharing video and editorial content online – to a specific target market who often don’t…
Samsung has extended its reach into the ‘connected car’ space by purchasing U.S auto parts manufacturer Harman International Industries for a whopping $8 billion. It is the largest deal in Samsung’s history, and could help the Korean tech giant move past the exploding Galaxy Note 7 smartphone fiasco that has hurt Samsung’s reputation and is expected to cost billions of dollars. Samsung said in a statement that its board had approved the all-cash purchase of the Connecticut-based auto firm for…
Dubai-based business tycoon Mohamed Alabbar, prominent in the real estate and property development industry of the United Arab Emirates and former director general of the Dubai Department of Economic Development, announced on November 13 the launch of a $1 billion regional e-commerce site in a joint venture with the Saudi sovereign wealth fund and other Gulf investors, called Noon.com. The new site is expected to go online in January with 50 percent investment from the Kingdom’s Public Investment Fund and…
French regulators penalized Altice telecoms group on Tuesday, November 8, for merging two mobile units without authorization. The telecoms group was fined 80 million Euros. The French Competition Authority said the fine was the stiffest ever "in Europe and the world" for this type of violation. Altice is a holding company owned by French-Israeli businessman Patrick Drahi. The company bought in 2014 France's second-largest mobile operator SFR for 17 billion euros, merging it into a cable and internet company it…
Facebook revealed its latest third quarter earnings on November 2, which showed a solid performance for the social media giant with growth in mobile ad revenues as the company expands into new services. Facebook’s profit increased 166 percent to $2.4 billion on revenue that surged to $7 billion from $4.5 billion during the same period in 2015. Facebook’s CEO and co-founder Mark Zuckerberg said in an earnings release that Facebook “had another good quarter. We’re making progress putting video first…
South Korean smartphone maker Samsung Electronics released its quarterly earnings on Thursday, October 27, revealing an expected fall in profits due to the highly damaging recall of the Galaxy Note 7 that hammered the company’s reputation. Samsung said its operating profit for the July-September period was at 5.2 trillion won ($4.6 billion), down 30 percent from last year. Samsung was prepared for its drop in profits after it killed its flagship device due to overheating batteries that burst into flames.…
Twitter announced on October 27 plans to cut nine percent of its workforce as it struggles on after failing to find a buyer. There was talk about Google or Salesforce purchasing the social network, but neither confirmed that it wasn’t pursuing the idea. Twitter reported a net loss for the quarter of $103 million, compared with a $132 million loss last year. The one area that Twitter has shown strength is in advertising, which saw the company’s revenue grow eight…
Apple posted its latest quarterly profits revealing an expected drop in iPhone sales which was expected. But the company made gains in services which offered hope for Apple as it moves away from its dependence on smartphones. The company said its profits fell 19 percent to $9 billion in the fiscal quarter ending September 24. Revenue dropped nine percent to $46.9 billion from $51.5 billion in 2015. Market forecasts more-or-less predicted Apple’s results which showed that iPhone sales – the…
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