Preliminary findings from an US investigation into the Marriott International breach last month point to hackers for the Chinese state as the culprits, people familiar with the matter say. The hack was likely driven by China's push to expand its massive databases on US and other citizens, the sources added.
Verizon announced a $4.5 billion writedown in the fourth quarter due to its Oath media business, which includes Yahoo and AOL. The company blames increased competitiveness and market pressures for the weak performance.
The Federal Communications Commission is due to decide today on a proposal to strengthen phone carriers' ability to restrict automated text messages. The FCC is expected to vote in favor of the proposal, despite several Democratic senators saying it would enable phone companies to "block any text message they wish."
The merger of T-Mobile and Sprint should receive regulatory approval by mid-2019, said Cowen analysts, who expect the merged entity to have stronger financials than executives estimate. "The company ultimately should be able to delever to <2.0x faster than the 3-4 years it has stated," the analysts reported.
Luxtera, a developer of silicon photonics technology, reportedly is in acquisition talks with Cisco. Silicon photonics converts data encoded in photons carried over fiber-optic cables into information that can be processed by microchips, accelerating the transfer of data.
The number of US homes with fiber-based broadband service was 18.4 million as of September, an increase of 23% compared with September 2017, according to a report from research firm RVA for the Fiber Broadband Association. Fiber broadband passes 39.2 million US homes, of which 1.6 million have the choice of two or more service providers.
A report released by the House says subpar security protocols at Equifax led to the breach that exposed the data of 148 million customers.
Tribune Media's independence and focus on local brands have helped it garner success and avoid the uncertainties that come with acquisitions. Nexstar CEO Perry Sook, who will be overseeing the merging of his company with Tribune, agrees: "The management team has done a great job of managing through an extended period of being in limbo, but the results have certainly been there and we think that's a great foundation to build on."
Disney is exploring the individual sale of its 22 regional sports networks after failing to attract a solid offer. Several potential buyers, including Sinclair, Apollo Global and Nexstar, have shown interest in the acquisition, but those groups have not met the full criteria of reasonable sale price and available funding.
Verizon has come to terms with the financial shortfall of Oath -- a division for its Yahoo, AOL and Huffington Post brands -- and has reduced Oath's value by $4.6 billion, leaving a goodwill balance of roughly $200 million. Investors seemed to agree with the move, as stocks rose 1.6% Tuesday and closed at $59.20.