Verizon sells web trailblazers Yahoo and AOL for $5B | Leisure

AOL and Yahoo are sold again, this time to a private equity firm.

Wireless company Verizon will sell Verizon Media, which consists of the once groundbreaking technology platforms, to Apollo Global Management for $ 5 billion.

Verizon said Monday it will retain a 10% stake in the new company, which will be called Yahoo.

Yahoo was the face of the Internet at the end of the last century, which preceded giant tech platforms like Google and Facebook. And AOL was the portal that brought almost everyone who signed up in the earliest days of the internet.

Verizon spent around $ 9 billion over a two-year period buying AOL and Yahoo as of 2015 in hopes of building a digital media business that would rival Google and Facebook. It didn’t work – those brands were already fading back then – as Google, Facebook and, increasingly, Amazon dominate the US digital ad market. In the year following its purchase of Yahoo, Verizon listed the value of its combined business, called “Oath,” at approximately the value of the $ 4.5 billion it had spent on Yahoo.

Verizon has lost media resources as it refocuses on wireless networks and spends billions on licensing the radio waves required for the next generation of faster mobile services called 5G. It sold the blogging site Tumblr in 2019 and HuffPost to BuzzFeed late last year. The digital media sector has consolidated in recent years as companies seek profitability.

Properties Verizon sells include Yahoo Finance, Yahoo Mail, and tech blogs Engadget and TechCrunch.

Despite the difficulty of competing for advertising dollars with tech giants, resulting in cost reductions and layoffs, Verizon Media’s revenue rose 10% year over year to $ 1.9 billion in the most recent quarter. According to Verizon and Apollo, the division still has nearly 900 million monthly users and had sales of $ 7 billion in 2020.

Apollo says it “strongly believes in Yahoo’s growth prospects” and expects the overall growth of digital advertising to also fuel Yahoo, Apollo senior partner David Sambur said in a prepared statement. Apollo has invested in other media and technology companies such as the Shutterfly photo website, and television and radio stations formerly owned by Cox.

Apollo is betting that the data the Yahoo division collects from users who sign up for products like email will appeal to advertisers when ad tracking technology changes, said Forrester analyst Joanna O’Connell.

Financial firms have played an increasingly important role in traditional media over the past few years as the newspaper industry grapples with the decline in print advertising, chain buy-outs, and cost and job cuts.

Verizon will receive $ 4.25 billion in cash, preferential shares of $ 750 million and the minority interest.

The deal is expected to close in the second half of the year.

New York-based Verizon Communications Inc. shares rose less than 1% on Monday.

Google Is Placing Cash Into That Quick Undersea Web Cable Between Eureka and Singapore, and They Assume It will be Carried out by 2023 | Misplaced Coast Outpost

Certainly a first: Google has literally put Eureka on one of its cards. source.

###

You’ve heard about the big, new, fat fiberglass pipe you’re going to be laying between Singapore and Eureka? (If you haven’t, check out the links below.) It is slated to plunge into the depths from one of the world’s major financial capitals and head east with stops in Indonesia and Guam before crawling up the banks via the drainpipe of the old Samoa pulp mill, which extends about a mile to the sea.

It’s an exciting prospect! Already one The large international data center company has plans for a new facility in Arcataand it’s everyone’s greatest hope that more tech-dolla will rain on our shores once our new line is in order.

Which one is when According to Google, it is expected to be operational in the summer of 2023.

And when I say “according to Google”, I’m not saying that I just googled it. I’m saying Google literally says that. Because like that Company announced yesterday on its Google Cloud blogIt throws a lot of money on the Singapore-Eureka underwater line, code-named “Echo”.

“The architecture of Echo is designed for maximum reliability,” writes the Goog. “The unique Trans-Pacific route to Southeast Asia avoids overcrowded, traditional routes north and is expected to be operational in 2023. We look forward to the expanded connectivity that Echo will bring to Southeast Asia and create new opportunities for people and businesses in the region. “

And hopefully this region too.

Outlook on the Media & Leisure World Market to 2026 – Rising Want for Quick Web Connectivity With Extremely-Low Latency for OTT Media is Driving Progress

TipRanks

Billionaire Steven Cohen takes on these 3 “Strong Buy” shares

Last week the NASDAQ fell below 13,200, taking the net loss from its all-time high earlier this month to 6.4%. If this trend continues, the index will slide into correction territory, a 10% loss from its peak. So what exactly is going on? Basically, the signals are mixed. The COVID-19 pandemic is starting to fade and the economy is starting to open again – strong positive results that should boost markets. An economic restart, however, brings inflationary pressures: more people work means more consumers with money in their pockets, and the massive stimulus programs that have been passed in recent months – and the law that is now going through Congress and on $ 1.9 trillion – have provided additional funds to people’s purses and liquidity in the economy. There is pent-up demand out there and people to spend, and both of these factors will drive prices up. We can see an effect of this in the bond market, where the ten-year government bond yielded 1.4% near an annual high and has seen an upward trend in the past few weeks. However, this could be a gun jumping case, as Federal Reserve Chairman Jerome Powell told the Senate he was not considering a move to raise interest rates. In other words, these are confusing times. For those who feel lost in the whole stock market fog, investing from gurus can provide a sense of clarity. None more than billionaire Steven Cohen. Cohen’s investment firm, Point72 Asset Management, has adopted a strategy that involves investing in the stock market as well as a more macroeconomic approach. This strategy cemented Cohen’s status as a highly regarded investment powerhouse. The guru made $ 1.4 billion in 2020 thanks to a 16% gain in Point72’s top hedge fund. With that in mind, our focus shifted to Point72’s most recent 13F filing, which reveals the stocks the fund bought in the fourth quarter. TipRanks’ database, which relied on three tickers in particular, found that everyone had an analyst consensus of “Strong Buy” and had significant upside potential. Array Technologies (ARRY) The first new position is Array Technologies, a green tech company providing tracking technology for large solar energy projects. It is not enough to just use enough photovoltaic solar modules to supply an energy supply company with electricity. The panels must track the sun across the sky and take into account seasonal differences as it travels. Array offers solutions to these problems with its DuraTrack and SmarTrack products. Array boasts that its tracking systems improve the life cycle efficiency of solar array projects and that its SmarTrack system can increase total energy production by 5%. The company has impressed its customers with installations in 30 countries in more than 900 supply-scale projects. President Biden is expected to take executive action at the expense of the fossil fuel industry to promote green economic policies, and Array could potentially benefit from this political environment. This company’s stock is new to the markets after it went public in October last year. The event has been described as the “first major solar IPO” in the US for 2020 and was a success. The shares opened at $ 22 and closed at $ 36 on the day. The company sold 7 million shares and raised $ 154 million. Another 40.5 million shares were brought to market by Oaktree Capital. Oaktree is the investment manager who has held a majority stake in the company since 2016. Array fans include Steven Cohen. Point72’s new ARRY position, valued at 531,589 shares in the fourth quarter, is valued at over $ 19.7 million. Guggenheim analyst Shahriar Pourreza also appears confident about the company’s growth prospects, noting that the stock appears to be undervalued. “Renewable energy companies have seen large capital inflows as a result of the ‘blue wave’ and Democratic control of the White House and both houses of Congress. However, ARRY continues to trade at a significant discount to its peers, “noted the 5-star analyst. Pourreza added,” We remain optimistic about ARRY’s growth prospects based on 1) tracker market share gains over fixed pitch systems are due. 2) ARRY market share gains within the tracker industry, 3) ARRY’s great opportunity in the less permeated international market, 4) the ability to monetize their existing customer base over the long term through extended warranties, software upgrades, etc. that represent a high profit margin accretive. “Consistent with these bullish comments, Pourreza is pricing ARRY shares for a buy and its target price of $ 59 implies an uptrend of 59% from current levels. (To see Pourreza’s track record, click here.) New Shares In Growth industries are the main focus of Wall Street pros, and Array has recorded 8 valuations since going public, with 6 buys and 2 holds making the consensus rating for the stock a strong buy, with an average price target of 53.75 USD suggests an uptrend of ~ 45% is possible over the next 12 months. (See ARRY stock analysis on TipRanks.) Paya Holdings (PAYA) The second pick from Cohen we’re looking at is Paya Holdings, a North American payment processing service, the company provides integrated payment solutions for B2B operations in the education, government, healthcare, nonprofit and retail sectors utilities. Paya has over $ 30 billion in payments processed annually for over 100,000 customers. In mid-October last year, Paya completed its market launch via a SPAC (Special Acquisition Company) merger with FinTech Acquisition Corporation III. Cohen stands right on this with the cops. During the fourth quarter, Point72 bought 3,288,843 shares, increasing the size of the stake to 4,489,443 shares. After this 365% increase, the position is now valued at ~ $ 54 million. Mark Palmer, 5-star analyst at BTIG, is impressed by Paya’s medium-term prospects and writes: “We assume that PAYA will achieve revenue growth in old age in the next few years as Integrated Solutions grow in the next few years is set to grow in the mid-20s and Payment Services is expected to grow in the mid single digits. At the same time, from our point of view, the company’s operating costs should increase by 5%. We therefore assume that PAYA’s adjusted EBITDA growth will be north of 20% in the next few years and that its adjusted EBITDA margins will increase from 25% in 2019 to 28% by year 21. “Palmer sets a price target of $ 18 on PAYA shares, showing his confidence in 49% growth for the coming year, and rates the shares as a buy. (To see Palmer’s track record, click here) PAYA’s consensus rating for analysts with strong buying is unanimous based on 4 buy-side ratings set over the past few weeks. The stock has an average price target of $ 16, suggesting an upside potential of ~ 33% from the current stock price of $ 12.06. (See PAYA stock analysis on TipRanks) Dicerna Pharma (DRNA) Last but not least, Dicerna Pharma, a clinical-stage biotech company focused on the discovery, research and development of treatments based on its RNAi technology platform (RNA Interference). The company has 4 drug candidates in various stages of clinical trials and another 6 in pre-clinical trials. The company’s pipeline clearly caught Steven Cohen’s attention – the acquisition of a new stake totaling 2.366 million shares. This stake is valued at $ 63.8 million at current values. The farthest drug candidate down Dicerna’s pipeline is nedosirane (DCR-PHXC), which is being studied for the treatment of PH or primary hyperoxaluria – a group of several genetic disorders that cause life-threatening kidney disease by overproducing oxalate. Nedosiran blocks the enzyme that causes this overproduction and is in a phase 3 study. Top-line results are expected in mid-’21 and if everything goes as planned, an NDA filing for nedosiran is expected towards the end of Q3 21. Analyst Mani Foroohar covers Leerink and sees Nedosiran as the key to the company’s near-term future. “We assume that nedosiran could be approved in mid-2022 and that the drug will be around a year and a half behind its competitor Oxlumo (ALNY, MP) in PH1 … A successful result will be DRNA in a commercial company for rare diseases in an attractive duopoly transforming market with the best label width in the industry, “noted Foroohar. To that end, Foroohar rates DRNA as an outperform (i.e. Buy), and its price target of $ 45 suggests a one-year upside of 66%. (Foroohar’s track record, click here) Overall Dicerna Pharma registered 4 buy ratings making the Strong Buy unanimous. DRNA shares trade for $ 26.98, and their average price target of $ 38 means the uptrend is ~ 41% over the next 12 months (See DRNA stock analysis to TipRanks) To find great ideas for trading stocks at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly introduced tool that brings together all insights into the shares of TipRanks. Disclaimer: The opinions expressed in this article are solely those of the analysts presented. The co ntent may only be used for information purposes. It is very important that you do your own analysis before making any investment.

Web disruption reported in southeast Iran amid unrest | Your Cash

DUBAI, United Arab Emirates (AP) – Impoverished southeastern Iran has seen major disruptions in internet service over the past week, internet experts said on Saturday as riots struck the remote province after deadly border shootings.

Several right-wing groups said in a joint statement that the authorities had shut down the mobile data network in troubled Sistan and Balochistan provinces, calling the disruption an obvious “tool to hide the government’s crackdown on protests that rocked the area.

Internet disruption reports come from Iranian authorities and semi-official news outlets increasingly recognizing the turmoil challenging local authorities in the southeast – a highly sensitive issue in a country that seeks to stifle any evidence of political disagreement.

As of Wednesday, the government closed the mobile data network in Sistan and Balochistan for three days, where 96% of the population only access the Internet via their phones. The residents reported a restoration of Internet access early on Saturday.

“This is Iran’s traditional response to any kind of protest,” Amir Rashidi of the Miaan Group, a human rights organization focused on digital security in the Middle East, told The Associated Press on Saturday. “By shutting down the internet to block messages and pictures from coming out, (authorities) are more comfortable opening fire.”

A number of escalating confrontations between police and protesters broke out during the week. Crowds with light weapons and grenade launchers descended on the Kurin checkpoint near Iran’s border with Pakistan on Thursday, Abouzar Mehdi Nakhaie, the governor of Zahedan, the provincial capital, said in comments on the semi-official Iranian news agency ISNA. The violence killed one police officer, he added.

Protesters attacked the district governor’s office earlier this week and stormed two police stations in Saravan city. They were outraged by the shooting of fuel smugglers trying to return to Iran from Pakistan on Monday. At least two people were killed in the border shootings and the subsequent clashes, the government said. Many human rights defenders in the region reported higher deaths without providing evidence.

Iranian Foreign Ministry spokesman Saeed Khatibzadeh vowed on Friday to investigate the deaths. Officials insisted that calm return to the streets.

The Iranian government previously cut internet access and cell phone service during tense times. In autumn 2019, for example, Iran imposed a near-nationwide internet blackout when anti-government protests sparked by a rise in fuel prices struck the capital of Tehran and other cities. Hundreds of people were reportedly killed in the act across the country.

NetBlocks, which monitors global Internet access, called the reports of malfunctions “credible” but was unable to conduct a verification.

Given the authorities were targeting the cellular network rather than the landline, the interference would likely not appear in regular network data, said Mahsa Alimardani, researcher at Article 19, an international organization fighting censorship. The area was already suffering from unreliable internet connections.

“This targeted shutdown was very deliberate because they knew the realities of this province,” Alimardani said. The people there are poor and use cheap phones as opposed to computers.

Sistan and Balochistan are one of the most unstable and least developed parts of Iran. The relationship between the predominantly Sunni residents and the Shiite theocracy of Iran has long been strained. Several militant groups are involved in a low-level violent uprising in Sistan and Balochistan, including those calling for greater autonomy for the region.

The area is also on an important trade route for drugs and gasoline, which is heavily subsidized in Iran and an important source of income for smugglers.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed in any way without permission.

Extra money for public well being, rural web in state Senate-backed finances

The Georgia Senate unanimously passed a mid-year budget of $ 26.5 billion on Tuesday to fund state public health, police and schools through June 30. This has given more funding to initiatives to combat the COVID-19 pandemic and promote broadband internet in rural areas.

The mid-year budget relies on federal COVID-19 aid to fill spending gaps in education, public health, and other agencies.

The Senate version of the half-year budget largely mirrors Governor Brian Kemp’s spending recommendations last month, which are designed to avoid additional cuts after agencies’ budgets were cut by $ 2.2 billion in June last year due to the pandemic.

With no cuts, the mid-year budget will restore more than half of the $ 950 million saved by K-12 public schools last year. The remaining shortfall will be covered with federal funds in order to keep the school budget stable.

State House lawmakers backed Kemp’s proposals to add $ 20 million to expand broadband internet in rural Georgia, more than $ 38 million to buy 500 new school buses, and $ 500,000 to start the new ones State hemp cultivation and medicinal cannabis initiatives.

Senate lawmakers have allocated more money to state health officials to fight the pandemic, and allocated $ 27 million to epidemiological programs and a vaccination scheduling system. Five new posts focusing on pandemics would be added to the state Department of Health, from three posts the House added.

The Senate-approved budget gives the governor an additional $ 7.5 million in emergency funding to fight the virus and would allow state prison guards and youth correction officers a 10% pay increase beginning April 1, in order to generate savings by shedding vacant positions .

“I think this is a budget to be proud of,” said Blake Tillery, chairman of the Senate Committee on Appropriations, R-Vidalia. “It’s certainly a much better position than it was this time last year.”

Although passed unanimously, the budget was criticized by Democratic State senators for not including more money for public health services and leaving legislators with no room to generate revenue by curtailing tax breaks and increasing the state’s cigarette tax.

“We think – I think – we should have done more,” said Gloria Butler, Senate Minority Chairwoman, D-Stone Mountain. “The politics of the day do not determine our best thinking or our best political and budgetary decisions.”

The mid-year budget now returns to the house for final vote before it goes to Kemp’s desk to be signed. The legislature will then work out a budget for the 2022 financial year.