Verizon Communications netted 36,000 FiOS video and 90,000 FiOS broadband subscribers in the third quarter, and profits exceeded analysts' expectations as FiOS revenue grew 4.4%. Chief Financial Officer Fran Shammo said the company was "still evaluating" how the Yahoo data breach would affect Verizon's proposed purchase, adding, "This was an extremely large breach ... so we have to assume that it will have a material impact on Yahoo."
The Federal Communications Commission closed down the latest stage of its wireless spectrum auction following a single round Wednesday after carriers bid just $21.5 billion on the 90 MHz of spectrum up for grabs, far short of the $54 billion that TV stations had requested. The FCC will now lower the spectrum offering to 80 MHz (excluding guard bands) and return to square one by reducing the number of licenses broadcasters can sell.
Sprint added 347,000 postpaid subscribers in the second quarter, more than five-fold growth from the same period a year ago as the carrier's red ink shrank dramatically, the company said in reporting preliminary results. Wireless net revenues rose by nearly 5% as Sprint also picked up 823,000 subscribers from wholesale partners.
According to the second quarter 2016 Nielsen Total Audience Report, the time Americans spend on new internet options has increased 61% to 3 hours and 39 minutes in the last two years, even as time spent on traditional media, such as TVs, DVDs and AM/FM radio, has only decreased slightly. Learn more.
CBS is the first major network to sign on for Google's upcoming web TV service, and Google is also in advanced talks to add Disney, Viacom and 21st Century Fox channels to its skinny bundle. CBS' live content -- including NFL games -- will be made available on the service, which is expected to launch in early 2017.
AT&T will forsake so-called "skinny bundles" when its DIRECTV Now streaming service launches, Senior Vice President Tony Goncalves told an industry conference Wednesday. "You would need multiple skinny bundles to appeal to enough audience to get a scaled product," he said, adding that niche products are better suited to such an offering.
Apple is joining Google and Amazon in a race to control smart-home networks by partnering with builders on test houses to hook iPads and iPhones up to web-connected appliances. The company is betting that consumers will be more likely to pay for smart wireless devices when contractors build them into the furnishings as they do marble-tiled bathrooms, a report states.
Cisco is bringing more speed to data centers and wide-area networks with enhancements and new products. The company's announcements focus on faster speeds for Fibre Channel and IP storage networks, as well as more streamlined storage management.