Ingrid Lunden, writing for TechCrunch;
After days of speculation, the deal is now official: AT&T is acquiring Time Warner for $85 billion in a mix of cash and shares, paving the way for another behemoth in the converged media horizon.
The final acquisition price will be $107.50 per share, paid in half cash and half AT&T stock. This means that for each outstanding share of Time Warner stock investors will receive $53.75 in cash and $53.75 in AT&T stock.
This price gives Time Warner a valuation of $85.4 billion – after the deal is finalized Time Warner shareholders will own between 14.4% and 15.7% of all outstanding AT&T shares. Time Warner will represent about 15% of the combined company’s revenues after the deal closes.
It was sixteen years ago, when AOL (now owned by Verizon) acquired Time Warner for US$164 billion, seems a perfect fit at that time. AOL as an ISP and Time Warner as a content company. But the AOL-Time Warner merger was considered as the biggest mistake in corporate (Time) history’ and Time Warner spun off AOL as a separate independent company in 2009.
If this deal closes, AT&T will have an unlimited access to all of Time Warner contents including hits like Game of Thrones, Silicon Valley, and Cartoon Network, CNN, TNT and more.
The combined company of AT&T-Time Warner will now be in competition not only with the Verizon but also with Netflix, Amazon, Apple and Google.
Joey Alarilla, writing for e27;
“I have always believed that the Philippines could well become the next Silicon Valley,” Kevin Leversee, Co-founder of outsourcing firm TrustTeck, shared with e27.
“The future is in innovation and technology, and that is where we should focus. However, when everyone is nervous and uncertain, it does not help. In the BPO industry, some of my colleagues are nervous. There are plans to put up new BPO centres that have been put on hold — even big, new, shiny office buildings are empty inside. Everyone is waiting to find out what is going on.”
Leversee added that he loves the country and will continue to do business here — moreso that his two children are half-Filipino.
However, the same could not be said for some of his compatriots, who are looking to take their business elsewhere. “I am all for a strong Philippines, but we need to be more forward looking,” he concluded.
I’m pretty sure a lot of businessmen and entrepreneur share Kevin Leversee’s opinion.
Abe Olandres, writing for Yugatech;
In the past several months though, Converge has been making the rounds and doing press briefings. One of the reasons behind it is that PLDT is looking to buy the company (this was mentions in the sidelines during their latest media briefing) but the President/CEO of Converge rejected the offer.
In order to combat pressure from competition, Converge needs to scale up pretty quickly as it becomes a serious threat to big players like PLDT/Globe. The plan is to go public — Converge is looking to file its IPO sometime in 2018. This move will certainly put Converge ICT against the big leagues for home broadband which is very interesting to watch out for. This could be another case that will attracxt the eyes of the Philippine Competition Commission, just like the PLDT-Globe-SMC deal.
Aside from IPO, Converge can scale up by looking for outside partners like with Telstra or being acquired by another company other than PLDT or Globe. I’d like to see Xurpas becoming a major telecom player in the Philippines, since it perfectly fits their DNA, and Converge is a perfect acquisition for them.
Here’s the trailer of Nintendo NX or officially known as Nintendo Switch, that the company announced earlier. Read more
Marvel just release the sneak peek for the sequence of Guardians of the Galaxy. Read more
It’s unclear if the NX will be gaming console like the Playstation 4 or Xbox One, or similar to teh Wii U, which is a hybrid handheld gaming that you can connect to a TV or separate display. Read more
Top Philippine basketball officials on Wednesday named the top amateur players that will be part of a special PBA draft for players under Gilas Pilipinas.
Included in the list are:
- Mac Belo
- Carl Bryan Cruz
- Ed Daquioag
- Russell Escoto
- Kevin Ferrer
- Jio Jalalon
- Von Pessumal
- Roger Pogoy
- Mike Tolomia
- Arnold Van Opstal
- Matthew Wright
- Ponso Gotladera
- Almond Vosotros
Anyone of these could easily be the top draft but my top 5 are; Belo, Escoto, Tolomia, Opstal and Pogoy. The Special PBA draft will on October 30, 2016 at Robinsons Place Manila and it will be broadcast by TV5.
In line with CAAP banning of Note 7 from all airports and airline flights in the Philippines, Samsung Philippines has announced that the company will setup booths in major airports to help travelers who have not been able to exchange their Galaxy Note7. Read more
Apple just sent the invites to their October 27 event, which was previously reported. Read more
Aside from helping Barangay Ginebra San Miguel win the Governors’ Cup, the Gin Kings leader also took the opportunity to pop the question to longtime girlfriend Lauren Hudson as confetti rained down the SMART-Araneta Coliseum.
He couldn’t have chosen a better time, the best time in my opinion. But what if Ginebra did not win the Championship? I guess we will never know.
The Barangay Ginebra San Miguel Kings finally ended a long eight-year wait after import Justin Brownlee beat the buzzer on a miracle three-pointer that clinched a hotly-contested Game Six, 91-88, on Wednesday at the SMART-Araneta Coliseum.
Brownlee scored Ginebra’s last 10 points – including the game-winning triple with time running out that sealed the best-of-seven Oppo PBA Governors’ Cup finals series, 4-2, for the Kings.
It was the Ginebra franchise’s first championship since 2008.
Good thing there’s this thing called replay! 🙂
Congratulations to the Ginebra Gin Kings for winning the PBA Governors’ Cup Championship!!
The video embedded after the break is too graphic and I should warn you that some of the images can be disturbing. Read more
Abe Olandres, writing for Yugatech;
In other fronts, the House of Representatives are looking into reducing the volume of cars by increasing the Ad Valorem Tax. This is perhaps similar to what Singapore is doing to reduce sales of new cars.
The proposed bill will add the following tax brackets into sold cars at different price levels:
Php600,000 and below: 5% (+Php30,000)
Php600,000 – Php1,100,000: 20% (+Php120,000 – Php220,000)
Php1.1M – Php2.1M: 40% (Php440,000 – Php840,000)
Over Php2.1M: 60% (Php1.26M and higher)
The proposed bill will also be in favor of ride-sharing services like Uber, Grab and EasyTaxi.
Ina Fried, writing for Recode;
Apple is planning to introduce new Macs at an Oct. 27 event, sources confirmed to Recode.
The move had long been expected, given that the company released MacOS Sierra last month but had yet to introduce any new computer models sporting the software. It also comes just in time for Apple to have the new products on sale for the full holiday season.
This has been rumored and widely expected. The question now is, will have or “not have” the headphone jack? If no headphone jack, will Apple include the headphone jack adapter with the new Macs, just like with the iPhone 7/7 Plus?
Samsung Galaxy Note 7 is banned in airports and even though there’s no official announcement yet, the ban will most likely happen on all airports worldwide. Which is why Samsung Australia has setup customer service points to educate both passenger and airline staff that the ban does not affect other Samsung device. Read more
Razer, the PC gaming product manufacturer has acquired the majority assets of THX, an audio tech company that George Lucas founded out the original Star Wars trilogy movies. The acquisition will bring the management and employees of the THX onboard Razer. Read more
Barangay Ginebra San Miguel withstood a late Meralco charge to win, 92-81, and seize a 3-2 lead in the 2016 PBA Governors’ Cup Finals Sunday night before a boisterous crowd at Smart Araneta Coliseum.
Ginebra Gin Kings are one win away from becoming the PBA Governors’ Cup Champions.
Game 6 will be on Wednesday at Smart-Araneta Coliseum.
Two-time league MVP James Yap and spitfire guard Paul Lee swapped sides on Thursday as Rain or Shine continues to shake up its roster.
The deal was approved late Thursday afternoon by the Office of the Commissioner.
It feels like Rain or Shine got the short-end of the stick here. With no disrespect to James Yap, Paul Lee is 7 years younger and faster than Yap. But statistics wise, with seven PBA championships, twelve-time PBA All-Star and 2 time MVP under his belt, Yap will be a great addition to the young players of RoS.
Ok, this “deadline tomorrow!” post is getting out of hand. Read more