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Quibi raises USD 750 mln more ahead of launch
2020-03-05 12:46:00| Telecompaper Headlines
(Telecompaper) Short-form video service Quibi has raised USD 750 million in second-round funding, after raising USD 400 in January, Variety reported. The company said the money should take it to the point of profitability. The service, started by Jeffrey Katzenberg and Meg Whitmas, has raised USD 1.75 billion to date. No investor names were disclosed for this round, but the company said they included new and existing investors from "studios, major technology companies, strategic partners and financial investors."
Cincinnati Bell gets new bid, at higher USD 13.50 per share
2020-03-03 10:50:00| Telecompaper Headlines
(Telecompaper) A bidding war is taking place around Cincinnati Bell, which said it has received a fresh unsolicited bid, at USD 13.50 per share in cash. The bid comes from Macquarie Infrastructure and Real Assets (MIRA), which Cincinnati Bell now reveals was the party that offered USD 12 per share for the company in January. Cincinnati Bell had already accepted a bid from Brookfield Infrastructure, at USD 10.50 per share or USD 2.6 billion in total.
Apple pays USD 500 mln to settle California class action lawsuit for slowing iPhones
2020-03-03 09:16:00| Telecompaper Headlines
(Telecompaper) Apple will pay up to USD 500 million to settle a case in the US, where consumers accused the company in a class action lawsuit of intentionally slowing down their older iPhones, Reuters reported. The preliminary settlement still requires approval by the US district judge in San Jose, California. It calls for Apple to pay plaintiffs USD 25 per phone, a number which may be adjusted up or down depending on how many iPhones are eligible, with a minimum payment of USD 310 million. Apple denied the accusations but settled the nationwide case to avoid the burdens and costs of litigation, court papers show.
Tags: action
class
california
pays
FCC fines carriers USD 200 mln for sharing customer location data
2020-03-02 08:43:00| Telecompaper Headlines
(Telecompaper) The Federal Communications Commission has fined four US mobile operators for failing to protect consumer real-time location data. The FCC has proposed fine of over USD 91 million for T-Mobile US, over USD 57 million for AT&T, over USD 48 million for Verizon and more than USD 12 million for Sprint. The operators were also admonished for disclosing customer location information without authorisation to a third party.
Tags: location
data
customer
usd
Plume raises USD 85 million in new financing
2020-02-26 13:32:00| Telecompaper Headlines
(Telecompaper) The home networking specialist Plume announced it has closed a new financing round of USD 85 million. This includes USD 60 million in Series D preferred equity and USD 25 million in debt financing, bringing Plume's total equity funding to USD 123 million.
Tags: new
million
usd
financing
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