Time Warner Dumping Its Clearwire Stake
Time Warner today announced that it plans to sell its entire 7.8% stake in Clearwire, the beleaguered WiMax provider. Time Warner invested in Clearwire with other tech companies, such as Google and Intel, in 2008. Clearwire struggled to gain subscribers and has since launched an effort to convert to LTE 4G. Time Warner's original investment was worth $550 million. At today's market prices, it will get back only $73.3 million. Time Warner notified its fellow investors, as well as the Securities and Exchange Commission. Google sold off its stake earlier this year at a $443 million loss, and Intel wrote down the value of its 7.3% investment. Sprint remains the largest shareholder Clearwire.
Google Intros 'Zero-Touch' Android Enterprise Deployments
Google today made it easier for businesses to configure and deploy Android handsets to employees with a new tool called zero-touch enrollment. Google says zero-touch lets companies configure purchased devices and ship them directly to employees completely preconfigured with corporate policies and controls all in place.
Google Lets Android Users Merge iTunes, Google Movie Libraries Into One
Google today announced a new service called Movies Anywhere, which allows people to bring together their movie collections from Amazon, Google Play, iTunes, and Vudu into a single library that can be accessed from any device. Google is launching Movies Anywhere in the U.S.
AT&T to Buy Time Warner for $85.4 Billion
AT&T has agreed to purchase Time Warner for $85.4 billion in a stock-and-cash deal that will merge AT&T's delivery networks with Time Warner's vast catalog of content. AT&T believes the combined companies will be able to save $1 billion per year once fully merged.
SoftBank Invests Another $73 Million in Sprint
SoftBank has purchased yet more shares of Sprint stock, boosting its stake in the company to just over 80%. SoftBank shelled out $73 million for about 16.8 million shares.