Media Business

LATEST

Is Snapchat the new Facebook?

Snapchat

Snapchat hopes its planned flotation in New York will value the five-year-old photo-sharing app company at up to $25bn (£20bn) and turn its 26-year-old founder, Evan Spiegel, into the world’s youngest billionaire with a $5.5bn fortune.

Twitter: 140 characters in search of a buyer

Twitter in browser

Why doesn’t anyone want to buy Twitter? After the company’s board met on Thursday, it told CNBC that there were “no bids on the table” and that instead it was exploring cost cuts – an announcement that drove another sell-off in the stock and pushed it down 6%, as shareholders who had hoped to see a September swoop from a tech or media company were disappointed. On Friday the shares were changing hands at around $18 – 20% down this year and well short of their float price of $26 three years ago.

FCC approves $48.6bn sale of DirecTV to AT&T

For Sale

The Federal Communications Commission has approved the acquisition of DirecTV by rival AT&T for $48.5bn, but with one especially large catch that the regulator’s chairman, Tom Wheeler, said “would directly benefit consumers”: the new mega-company has to build a network 10 times the size of AT&T’s current network of fiber optic cable.

HOT LIST

FEATURED

Snapchat

Is Snapchat the new Facebook?

Snapchat hopes its planned flotation in New York will value the five-year-old photo-sharing app company at up to $25bn (£20bn) and turn its 26-year-old founder, Evan Spiegel, into the world’s youngest billionaire with a $5.5bn fortune.