Tag Archives: business

Jeff Bezos accuses the National Enquirer of ‘extortion and blackmail’

Nearly a month after the National Enquirer published a story about Amazon CEO and Washington Post owner Jeff Bezos’ relationship with TV host Lauren Sanchez, Bezos has accused the outlet, its owner AMI and leader David Pecker of blackmail. Continue reading Jeff Bezos accuses the National Enquirer of ‘extortion and blackmail’

Nas’ Queensbridge Venture Partners Sells Pluto TV to Viacom for $340 Million

Nasty Nas‘ pockets just got filthier. On Tuesday (Jan. 22), Businesswire announced that media tyrant Viacom has agreed to a definitive deal with Nas’ Queensbridge Venture Partners to acquire their Pluto TV streaming service for $340 million.  Continue reading Nas’ Queensbridge Venture Partners Sells Pluto TV to Viacom for $340 Million

Tesla replaces Elon Musk as board chair with Telstra CFO Robyn Denholm

As part of his settlement with the SEC over tweets about taking Tesla private, Elon Musk agreed to step down from his post as chairman of the board of directors. Now, while he’s still CEO and retains his seat on the board, Tesla has announced his replacement: Robyn Denholm. Already a Tesla board member, she is currently CFO and head of strategy for the Australian telecom Telstra, but will leave that post once her six-month notice period is up to serve as board chair of Tesla full-time. Continue reading Tesla replaces Elon Musk as board chair with Telstra CFO Robyn Denholm

Amazon is the latest $1 trillion tech company

Apple’s status as the only public trillion-dollar company didn’t last long. Amazon has been flirting with a $1 trillion market cap throughout trading on September 4th, passing the symbolic milestone in the morning. It reached the figure through a relatively recent surge, CNBC pointed out. While Apple reached $900 billion eight months earlier, Amazon’s stock price has been climbing steadily throughout most of 2018 and has thrived since a record-setting Prime Day in July.

Continue reading Amazon is the latest $1 trillion tech company

Disney and Fox’s $71.3 billion merger gets shareholder approval

Now that Comcast has withdrawn from the bidding war, Disney is free to proceed with acquiring most of 21st Century Fox’s assets. Shareholders for both companies just approved a $71.3 billion buyout, a larger figure than either of the suitor companies’ earlier offers. They must still divest 22 regional sports networks per the Justice Department’s demands, but should everything go smoothly, the merger is expected to be completed in the first half of 2019.

Continue reading Disney and Fox’s $71.3 billion merger gets shareholder approval

Justice Department appeals approval of Time Warner-AT&T merger

Just when we thought the AT&T–Time Warner merger was finally a done deal after a district court judge ruled in its favor last month, it seems not everyone wants to accept its terms. The Justice Department has filed to appeal the approval, according to a court document spotted by CNBC, which could reverse the deal if the DOJ wins. Continue reading Justice Department appeals approval of Time Warner-AT&T merger

Jury rules Samsung owes Apple $539 million in iPhone patent trial

In a patent case that has been running since 2011, today a jury ruled that Samsung owes Apple $539 million in total. In 2012 Apple was awarded nearly $1 billion in damages, and Samsung agreed to pay as much as $548 million, but after the verdict was thrown out by the Supreme Court, we ended up in a retrial with hundreds of millions at stake. Samsung has already paid Apple some $399 million over these patents, and in a statement an Apple spokesperson said: Continue reading Jury rules Samsung owes Apple $539 million in iPhone patent trial