Dish Network Executive to Take Over LightSquared Wireless

LightSquared, a wireless company that filed for bankruptcy in 2012, proposed a new restructuring plan that would give Dish Network Chairman Charlie Ergen 60 percent of the new equity in addition to $1 billion in junior debt. J.P. Morgan Chase, a LightSquared lender, would come away with 31.9 percent of the equity and a seat on the board of directors if the investment bank provides $189 million in funding. The restructuring plan is intended to raise between $750 million and $1 billion. Continue reading Dish Network Executive to Take Over LightSquared Wireless

Why Analysts Are Concerned About the JP Morgan Data Breach

In an era of system hacks becoming more common, JP Morgan is the latest to report a massive breach of customer information. While the company believed a few weeks ago that only one million accounts were affected, it now reports that 76 million households and 8 million small businesses were part of the data breach. While recent breaches have largely involved retailers, some analysts are more concerned about the JP Morgan case, especially since banks tend to have more sensitive data about their customers. Continue reading Why Analysts Are Concerned About the JP Morgan Data Breach

End of an Era: Larry Ellison to Step Aside as Oracle’s Chief

Oracle announced yesterday afternoon that Larry Ellison has agreed to step down as chief executive officer, concluding what Businessweek described as “one of the most entertaining and profitable runs for a leader in business history.” Ellison, who turned 70 last month, has run the company since co-founding it in 1977. He will remain chairman of Oracle’s board and will become the chief technology officer. Oracle execs Safra Catz and Mark Hurd will share the CEO responsibilities. Continue reading End of an Era: Larry Ellison to Step Aside as Oracle’s Chief

Kumo Aims to Break TV Bundle by Offering Specific Channels

Kumo, a startup that hopes to offer consumers access to individual channels rather than entire bundles, has raised $50 million in financing. The company may face significant hurdles, since content creators and owners have historically avoided this type of model, fearing a negative impact to their revenue streams. Unlike Aereo’s failed attempt at pairing an antenna with a cloud storage service, however, Kumo is reportedly working to license content for its a la carte approach. Continue reading Kumo Aims to Break TV Bundle by Offering Specific Channels

Forrester Sees Growth in Use of Big Data Despite Confusion

In a survey of 259 marketing and business development execs in finance, retail and consumer products, Forrester Research found that one-third of the respondents were confused about big data, and only 9 percent plan to implement related technologies in the next year. Forrester also found in a parallel survey that 452 technology execs at the same companies claimed they were more familiar with big data. Despite the confusion, the report encourages companies to take advantage of data supplied by Internet users and connected devices.

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Study: Younger Consumers Interested in Branchless Banking

A new study from Accenture found that as our finances move to new digital platforms, younger generations place more trust in Internet and retail brands than they do with traditional banks. The study found that individuals between the ages of 18 and 34 would consider doing their banking entirely online while also getting their financial services from non-traditional providers. Topping the list, 46 percent of respondents in this age group said they would be likely to bank with PayPal. Continue reading Study: Younger Consumers Interested in Branchless Banking

ScreenHits to Launch Free Website for Showcasing TV Pilots

ScreenHits, an online marketplace for international buyers of film and television content, plans to launch a free service for consumers that will feature TV pilots that have not been picked up. The approach aims to introduce a new source of revenue for producers and studios. The Pilot Showcase service is scheduled to go live with 50 pilots on July 1. The pilots will be made available with advertising, and viewers can pre-order any shows that get greenlit as full series.   Continue reading ScreenHits to Launch Free Website for Showcasing TV Pilots

Yahoo No Longer Honoring ‘Do Not Track’ Requests by its Users

In a blog post this week, Yahoo announced that its privacy policy will no longer recognize when users activate “Do Not Track” signals in their browsers. Although users purposefully use this setting to indicate they do not want companies to monitor their online behavior, the tracking is necessary for Yahoo to create a more personalized experience for its users. The move is part of larger strategy by CEO Marissa Mayer to brand Yahoo as a “personalization company.” Continue reading Yahoo No Longer Honoring ‘Do Not Track’ Requests by its Users

Sprint in Talks with Banks to Fund Acquisition of T-Mobile

Sprint is reportedly meeting with five different banks, including JP Morgan, Goldman Sachs and Deutsche Bank, to expedite its bid for rival T-Mobile. Insiders say that Sprint, which is owned by Japan’s SoftBank, hopes to finance much of T-Mobile’s estimated $50 billion price with corporate bonds. The remaining amount would likely be covered by syndicated loans and convertible bonds. Sprint, which is also working to ease regulatory concerns regarding the deal, is expected to make a formal offer by June or July. Continue reading Sprint in Talks with Banks to Fund Acquisition of T-Mobile

Netflix Passes 34 Million Subscribers, Previews Price Increase

Netflix announced on Monday that it plans to raise the price of its streaming video service for new members by a dollar or two per month. The service, which now has more than 34 million paid U.S. subscribers, is justifying the rate increase based on its continued investment in original programs, including series such as “House of Cards” and “Orange Is the New Black.” In addition to its first-quarter earnings report yesterday, Netflix announced opposition to Comcast’s proposed acquisition of Time Warner Cable. Continue reading Netflix Passes 34 Million Subscribers, Previews Price Increase

Small Theaters Face Challenges in Shift to Digital Distribution

As Hollywood studios are shifting from distributing movies on film to digital distribution via hard drives and satellite, many small theaters cannot afford $60,000 or more to upgrade and support the new technology. Theater owners are faced with the difficult decision between investing in new equipment or closing down their theaters. Meanwhile, most major U.S. cinema chains have already converted to digital cinema, many with the support of Wall Street-financed programs. Continue reading Small Theaters Face Challenges in Shift to Digital Distribution

Facebook Could Expand into E-Money Mobile-Payments System

Facebook is preparing to provide remittances and electronic money in an effort to extend non-ad revenue. The company applied for an e-money license in Ireland that would allow users to store and exchange money through its social network. Facebook would generate revenue by charging commission for each transaction. At least three London startups — TransferWise, Moni Technologies and Azimo — have discussed potential partnerships with Facebook regarding financial services. Continue reading Facebook Could Expand into E-Money Mobile-Payments System

Digital Comics Platform ComiXology to be Acquired by Amazon

Amazon announced that it will acquire comiXology, the digital comics platform that had its 200-millionth download last fall. With the sales of physical comics fading, comiXology is developing tech to allow the craft to move online. The company operates a comics store and a mobile comics app, which was the top-grossing non-game iPad app from 2011 to 2013. Its library includes 40,000 comics from 75 major publishers. ComiXology also opened a self-publishing platform last year. Continue reading Digital Comics Platform ComiXology to be Acquired by Amazon

Bug Causes Scramble to Update Software and Change Passwords

Popular websites have been scrambling to update software and Internet users have been encouraged to change their passwords following the news of an encryption flaw known as the Heartbleed bug, which is already being categorized as one of the biggest security threats the Internet has ever experienced. The bug has affected a number of websites and services (although the extent is not clear), and may have exposed account info including passwords and credit card numbers going back two years. UPDATE: Cisco and Juniper said yesterday that some of their networking products contain the bug, which means sensitive info may have been obtained while moving across corporate networks, home networks and the Internet. Continue reading Bug Causes Scramble to Update Software and Change Passwords

Poll Suggests Consumers More Cautious Online Post Snowden

According to a new survey from Harris Interactive, a significant number of consumers are being more careful with online activities in the year since Edward Snowden revealed information about NSA phone and Internet surveillance. Among the poll’s findings, Harris learned that 33 percent of those 18 to 34 said they were doing less online shopping, 29 percent of people in the same age group said they had reduced online banking activity, and 24 percent of overall respondents explained they were “less inclined to use email.”

Continue reading Poll Suggests Consumers More Cautious Online Post Snowden

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