Corporate and legal

Sprint forms special committee to review Dish proposal

Sprint is at least wiling to consider a proposal that Dish Network made recently to acquire its business.

Sprint today announced that it has formed a "special committee" made up of several of its board members, including Larry Glasscock, who will serve as the committee's chairman. The committee's charge is simple: to review the deal offered last week by Dish to determine if it's superior to the one already brought by Japan-based Softbank.

Last October, Japan-based Softbank announced that it would invest $20.1 billion into Sprint. A large portion of that -- $12.1 … Read more

LG earnings weak amid slowdown in Apple orders

LG Display's quarterly profit was hamstrung by a seasonal slowdown and decreased sales to Apple, Reuters reported today.

For its first quarter ending in March, LG took home an operating profit of 151 billion won ($135 million). That topped the average analyst's forecast of 147 billion won and proved a healthy rebound from the 211 billion won loss in the year-ago quarter. It also marked the company's fourth straight quarter in the black after seven straight quarterly losses.

However, earnings sunk 74 percent compared with its fourth quarter, the lowest level since LG's return to profitability. … Read more

Facebook reportedly the mystery mover behind 'Project Catapult'

Facebook seems to be behind what one ubertechie blog calls "one of the longest-running mysteries in the data center industry."

The company is reportedly looking at building a $1.5 billion data facility in Altoona, Iowa -- an effort previously referred to by state and local officials as the rather cloak-and-dagger sounding "Project Catapult."

The Des Moines Register cited legislative sources in reporting the news, in a story that was picked up by insider data blog Data Center Knowledge.

The Register reported that the facility is being touted as "the most technologically advanced" in … Read more

SF takes first step to approve watered-down cellphone radiation settlement

A San Francisco Board of Supervisors committee on Thursday voted unanimously to approve a watered-down settlement with the wireless industry over legislation that required cell phone retailers to distribute radiation warning materials.

As currently written, the settlement calls for San Francisco to agree to a permanent injunction against the "Right to Know" ordinance and promise that it will refrain from further litigation. In return, the CTIA, the wireless industry's trade association, will waive any claims to attorney's fees.

The proposed settlement now advances to the full board for consideration at its May 7 meeting. If approved … Read more

Yahoo tries to freshen up, kills a bunch of products

Yahoo is doing some spring cleaning. The company announced its plans on Friday to shut down several products, including Yahoo Deals, Yahoo SMS Alerts, and the Yahoo Mail and Messenger apps used on feature phones.

It's all about getting rid of the old to make room for the new, according to Jay Rossiter, Yahoo's executive vice president in charge of platforms, who wrote about the changes in a blog entry.

"We want to bring you experiences that inspire and entertain you every day," Rossiter wrote. "That means taking a hard look at all of our … Read more

AMD nabs Apple graphics chip designer

Advanced Micro Devices will soon announce it has hired a former Apple graphics chip designer to bolster its engineering leadership bench as it turns itself around, CNET has learned.

Raja Koduri, who most recently served as director of graphics architecture for Apple, will be rejoining AMD four years after leaving that company, people familiar with the hire told CNET. He will be taking on a role in AMD's graphics business, though it wasn't immediately clear to CNET what his title would be. AMD is expected to make the announcement next week.

The move is the latest in a … Read more

Dell confirms Blackstone drops takeover bid amid PC slump

Blackstone Group has withdrawn its proposal to buy Dell for $25 billion, citing the weak PC maker and poor financial results, Dell confirmed today.

The private equity firm last month launched a bid for the computer maker to rival a $24.4 billion buyout offer from Silver Lake and Michael Dell. However, since that time, the troubles facing Dell have become more clear, causing Blackstone to drop its bid. News of the withdrawal was originally reported Thursday by some outlets.

Blackstone noted in a letter to Dell's special committee that a "unprecedented 14 percent market decline in PC volume … Read more

Dish tells FCC its Sprint buyout is 'better for national security'

It appears that when Dish wants something it doesn't give up.

After making a surprise bid of $25.5 billion to acquire Sprint on Monday -- which would snatch the mobile provider from the hands of Japan's SoftBank -- Dish submitted a filing to the Federal Communications Commission on Thursday claiming a SoftBank acquisition of Sprint wouldn't be good for U.S. national security.

According to Reuters, Dish requested that the FCC suspend the review of SoftBank's possible buyout of Sprint. In the filing, Dish claimed that Softbank didn't have the "existing in-market infrastructure&… Read more

Blackstone reportedly withdraws $25B takeover bid for Dell

Private-equity firm Blackstone Group has reportedly ended its $25 billion takeover bid for Dell.

Blackstone, which last month launched a bid for the computer maker to rival a $24.4 billion buyout offer from Silver Lake and Michael Dell, withdrew its bid on Thursday, sources tell The Wall Street Journal and the Financial Times. The reasons for the withdrawal were not immediately clear.

CNET has contacted Blackstone for comment and will update this report when we learn more.

Blackstone submitted a tentative offer to buy the company after Dell announced in February its plans to take the company private via … Read more