SoftBank Group Corp. is currently seeking buyers for about $20 billion of its shares in T-Mobile US, according to reports in the Wall Street Journal and Bloomberg. If the proposed sale goes through, its proceeds could help offset SoftBank’s heavy investment losses over the past year. According to its first-quarter earnings report yesterday, SoftBank’s Vision…
Taiwanese Semiconductor Manufacturing Co., the world’s largest contract semiconductor maker, has stopped taking new orders from Huawei Technologies, one of its largest customers, according to the Nikkei Asian Review. The report said the decision was made to comply with new United States export controls, announced last Friday, that are meant to make it more difficult…
Netflix is picking up “The Lovebirds,” an upcoming romantic comedy starring Kumail Nanjiani and Issa Rae. “The Lovebirds” reunites Nanjiani with director Michael Showalter. Their previous collaboration, “The Big Sick,” was distributed by Amazon Studios, who gave it a theatrical release before moving to streaming. This is part of the ongoing fallout from the COVID-19…
The Wall Street Journal is reporting that SoftBank Group is using regulatory investigations as a way to back out of its commitment to buy $3 billion in shares from existing WeWork shareholders. WeWork’s spectacular train wreck of an initial public offering was an early harbinger that the good times might be over for a cohort…
Gojek has paid $30 million to take a minority stake in Blue Bird, one of the largest taxi operators in Indonesia, according to Bloomberg, which first reported that the deal was in progress last month. Gojek’s stake in Blue Bird is worth $30 million. The taxi operator’s holding company disclosed in a regulatory filing earlier…
SpaceX is said to be in talks with local government officials about setting up a new rocket factory in the Port of Los Angeles, a location that would give it easy access to the ocean for transporting its next-generation Starship and Super Heavy launch vehicles to its coastal launchpad sites in Florida. CNBC reported that…
Late last night the Financial Times reported that HuffPost, arguably one of the crown jewels of Verizon Media Group’s remaining network of media properties (which includes TechCrunch), is up for sale. Verizon has been shedding media properties in a retreat from the strategy that it had begun to execute with the acquisition of AOL for…
SoftBank Group, the multi-billion dollar Japanese technology conglomerate and investment firm, has put together a bid that would save WeWork parent company We Co., just weeks before the co-working real estate company’s imminent collapse, The Wall Street Journal reports. With the collapse of the company’s planned initial public offering, We Co. is facing a cash…
According to a new WSJ report, certain members of WeWork’s seven-person board, which includes cofounder and CEO Adam Neumann, are planning to pressure Neumann to step down and instead become We’s non-executive chairman. The move, says the outlet, “would allow him to stay stay at the company he built into one of the country’s most…
The We Company, parent company of the short-term real estate property management and development company WeWork and other We-related subsidiaries, is reportedly shelving its plans for an initial public offering. The company’s plans for a public offering have been hampered by questions about its corporate governance and the ultimate value of a company that private…
