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Stock Market & Financial Investment News

News Breaks
April 7, 2014
07:04 EDTVZ, CBBCincinnati Bell to sell wireless spectrum licenses to Verizon Wireless
Cincinnati Bell (CBB) announced that it has entered into agreements to sell its wireless spectrum licenses and certain related assets to Verizon (VZ) Wireless for cash and an assumption of certain Cincinnati Bell liabilities with a total value to Cincinnati Bell of approximately $210M. CBW has agreed to sell to Verizon Wireless all of its right, title and interest in its wireless spectrum licenses for cash consideration of $194M. In addition, Verizon Wireless will assume certain tower lease obligations. Cincinatti Bell Wireless expects to continue to provide wireless service for 8-12 months from the time of signing. The cash flows from these ongoing operations are expected to largely offset the anticipated one-time fees associated with winding down the business. The total value of the deal is estimated to be 4.5 and 6.0 times FY14 and FY15 CBW adjusted EBITDA consensus wireless estimates respectively. Concurrently, Verizon Wireless has entered into a separate agreement to assign its rights to acquire the spectrum licenses being sold by Cincinnati Bell to Grain Management. Verizon Wireless will then lease certain of the spectrum licenses from Grain Management. The Cincinnati Bell tower lease arrangements to be assumed by Verizon Wireless are not included in its agreement with Grain Management. Cincinnati Bell anticipates that, as a result of the transaction, it will absorb certain overhead and shared service costs currently attributable to its wireless operations. Cincinnati Bell is currently in the process of developing strategies to minimize these costs and will provide additional detail prior to or shortly after the transaction closes. CBW will notify its customers with further details regarding this transition assistance around the time of the closing, which is expected to be in 2H14.
News For CBB;VZ From The Last 14 Days
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September 1, 2015
18:24 EDTVZVerizon to begin pared-down video service in near future, Bloomberg says
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August 31, 2015
11:33 EDTVZAOL buys mobile social app maker Kanvas Labs, TechCrunch reports
AOL, which is owned by Verizon, has acquired Kanvas Labs, a photo and messaging startup, TechCrunch reports. A spokesperson for AOL says the company will continue to offer existing Kanvas Labs products, including the Kanvas photo editing app and Kanvas Keyboard, and there are plans to integrate Kanvas technology with AOL's products. Terms of the deal have not been disclosed. Reference Link
August 27, 2015
11:25 EDTVZSamsung Pay beta available on all U.S. carriers except Verizon, Verge reports
Samsung (SSNLF) Pay's beta is available on all major U.S. carriers, including AT&T (T), Sprint (S), T-Mobile (TMUS), and U.S. Cellular (USM), except for Verizon (VZ), the Verge reports. Verizon is "evaluating" Samsung Pay currently, and may very well miss the September 28th launch of the product, the report says. Reference Link
05:36 EDTVZVerizon FiOS reaches agreement with Entertainment Studios
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August 26, 2015
06:22 EDTVZGoogle fear Verizon, T-Mobile cell signs could crowd WiFi channels, WSJ says
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06:07 EDTVZVerizon confirms availability of hum to create connected driving experience
Verizon Telematics confirmed the commercial availability of hum, an aftermarket vehicle technology and subscription service that enables drivers on the road to make their car smarter through a simple solution regardless of their wireless service provider. First announced in January at the North American International Auto Show as Verizon Vehicle, hum provides subscribers with a self-installed solution that helps predict potential issues, prevents breakdowns and offers protection when problems do arise. At the simple press of a button, drivers receive diagnostic information, pinpoint roadside assistance and live consultation with ASE-certified mechanics and emergency personnel on-demand. Through GPS-based technology, hum helps accurately dispatch advanced roadside assistance, alerts emergency personnel of a car's location if a crash is detected, and assists authorities in locating a vehicle that has been reported stolen. Two year subscription plans start at $14.99 per month plus taxes, fees and equipment for the first vehicle with the option to add other vehicles for less.
06:02 EDTVZVerizon to announce Hum to connect older cars, The Verge reports
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August 25, 2015
05:59 EDTVZStocks with implied volatility movement; WMB VZ
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August 23, 2015
19:13 EDTVZBT executive says Verizon, AT&T abusing landline duopoly, FT reports
In a Financial Times interview published Sunday, BT Group's (BT) Americas president Bas Burger said Verizon (VZ) and AT&T (T) are abusing their control over telephone and broadband lines to charge inappropriate access fees to companies like BT. "For a western world country it is the worst I've seen... There is not sufficient regulation to create competition: almost all access is being provided by two companies and they have divided the country among themselves," remarked Burger, adding that the two companies are also not required to fix network problems within any specific timeframe. Reference Link
August 20, 2015
08:02 EDTVZFCC to hold a conference and workshop
2015 Supplier Diversity Conference & Workshop is being held at FCC Washington, D.C. offices on August 20 at 9:30 am. Webcast Link
August 19, 2015
10:20 EDTVZBig telecom firms put M&A on hold, CTFN reports
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08:22 EDTVZSprint traffic levels increasing, says Pacific Crest
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