Yesterday, we reported on news published by The Korea Times claiming that Samsung would phase out its unprofitable desktop PC business to focus on connected and portable devices including tablets and all-in-one laptops. Engadget reached out to Samsung for clarification and learned that the report is not accurate. “The rumor that Samsung is withdrawing from the PC desktop business is groundless,” the company said in a statement. Continue reading Update: Samsung Says it is Not Shuttering Desktop PC Biz

SoftBank Corp. is expected to take over Sprint Nextel in a $21.6 billion deal, while separately, Sprint raised its Clearwire offer to $5 a share, beating a rival bid from Dish Network. Masayoshi Son — chairman and chief executive officer of SoftBank, who founded the company in 1981 — told shareholders at an annual meeting in Tokyo on Friday that he plans on SoftBank becoming “the world’s biggest company.” Sprint shareholders are scheduled to vote on the takeover tomorrow. Continue reading SoftBank to Acquire Sprint Nextel, CEO Boasts Big Plans

Sprint Nextel, the third largest U.S. wireless carrier, accepted a $21.6 billion bid last week from Japan’s SoftBank and gave Dish Network a Tuesday deadline to make a best and final offer. However, Dish said it would not submit a new offer by the deadline, which clears the way for a Sprint acquisition by SoftBank. Dish has shifted its focus to purchasing a large stake in Clearwire Communications, but now faces a lawsuit filed by Sprint to block the offer. Continue reading Dish Network Opts Not to Submit New Bid for Sprint Nextel

Social media platform LinkedIn has been making the transition from a utilitarian network designed for business professionals to something much more dynamic. Since October, LinkedIn has been offering original content authored by a select group of “Influencers,” leaders from a variety of fields that post their thoughts on life, careers and success. Traffic to all LinkedIn’s news products has increased eightfold since the Influencers were introduced. Continue reading LinkedIn Turns to Influencers to Enhance Publishing Efforts

Liberty Media CEO Greg Maffei met several weeks ago with Time Warner Cable CEO Glenn Britt to discuss the potential benefits of cable industry mergers, according to a person familiar with the matter. Liberty acquired a 27 percent stake in pay TV operator Charter Communications early last month. Ten days ago, Liberty Chairman John Malone told shareholders that Charter probably has “the best operating team in the business.” Continue reading Chief Execs Discuss Benefits of Mergers in Cable Sector

Amazon recently announced plans to offer online grocery shopping in Los Angeles. While the $79 Amazon Prime provides customers with two-day shipping and streaming TV shows and movies, the $299 AmazonFresh Service, originally tested in Seattle, will additionally enable members to order groceries that will be delivered to the door in hours. Retail giants such as Walmart and Costco have suggested that online grocery delivery is a nearly impossible business. Continue reading Fresh: Amazon Brings Online Grocery Shopping to Los Angeles

Clear Channel, which owns the iHeartRadio online music service and about 800 radio stations, announced this week that it will pay Fleetwood Mac a percentage of radio-advertising revenue in exchange for playing the band’s newest music via online services. As Internet radio and subscription services impact the music business, Clear Channel has initiated deals with labels for digital use of music in exchange for a share of airplay revenue. Fleetwood Mac is the first to close such a deal directly. Continue reading Fleetwood Mac and Clear Channel Agree on Revenue-Sharing

Following months of acquisition talks with multiple players, Google has announced it is purchasing traffic navigation company Waze. Financial terms were not disclosed, but sources suggest that Google offered more than $1 billion for the free mobile service, which is currently used by more than 50 million people and launched its global ad platform in November 2012. Other Waze suitors reportedly included Facebook and Apple. Continue reading Google to Acquire Traffic Mapping App Waze for $1 Billion

Google introduced a new report titled “Quantifying Movie Magic with Google Search” that details how effective Google searches can be in regards to predicting the future box office success of upcoming movies. If proven accurate, Google could join forces with traditional methods such as surveys, tracking polls and other analytic services. The company claims it can predict opening weekend box office revenue with up to 94 percent accuracy. Continue reading Is Google Search the Future of Predicting Box Office Numbers?

CBS announced on Friday that it has wholly acquired TV Guide Digital, whose assets include TVGuide.com and TV Guide Mobile applications. CBS purchased the remaining 50 percent of TV Guide’s digital assets from Lionsgate (although terms have not yet been disclosed). The site and apps will join the growing collection of CBS Interactive properties, where the digital group hopes they will help attract a larger audience in addition to advertisers. Continue reading CBS Beefs Up its Portfolio with Acquisition of TV Guide Digital

News Corp. is planning a social networking expansion of its Wall Street Journal website, which will transform the site into a platform intended for more than simply delivering news. Lex Fenwick, CEO of Dow Jones, described the company’s plans during an investor day earlier this week. The focal point of the platform is a feature called WSJ Profile, which allows users to post what is essentially a digital resume and features social functions that could compete with LinkedIn. Continue reading News Corp. to Launch Social Network for Wall Street Journal

Dish Network is reportedly making a play for shares of Clearwire Corp., which could complicate a planned purchase of the broadband company by Sprint Nextel. In an effort to better compete in the U.S. wireless market, Sprint had agreed to purchase the roughly 50 percent of Clearwire that it does not already own. Additionally, Sprint agreed to a $20 billion acquisition by Japan’s SoftBank Corp. However, Dish also made a $25.5 billion offer to acquire Sprint.  Continue reading Dish Pursues Clearwire: Could Complicate Sprint Nextel Plans

In its effort to become a news destination for young adults, BuzzFeed announced it will debut “CNN BuzzFeed” today, a new YouTube channel based on CNN reporting. It plans to feature current and archival content (about three videos a week to start), designed for sharing via social media platforms. BuzzFeed already has several YouTube channels, but the CNN partnership marks its most comprehensive with a traditional media company. Continue reading CNN BuzzFeed to Launch Today: Targets 18-34 Demographic

Dish Network has received signed commitment letters from five banks, according to people familiar with the matter, bringing it closer to arranging $9 billion in committed financing for a planned $25.5 billion acquisition bid for Sprint Nextel. Dish has raised nearly $12 billion for the deal, which will compete with October’s $20.1 billion offer by SoftBank to acquire 70 percent of Sprint. The financing arrives a few days after Sprint agreed to enter into negotiations with Dish. Continue reading Dish Goes Up Against SoftBank to Purchase Sprint Nextel

“Downloaded” is a new documentary that examines the rise and fall of music file-sharing service Napster. The film tells the story of Napster co-founders Shawn Fanning and Sean Parker while providing details of the service’s launch in 1998 through its eventual 2011 acquisition by Rhapsody. It examines the downloading generation, resulting changes to the music industry, piracy and legal arguments, and the impact of services such as Spotify and iTunes. Continue reading Napster Documentary: The Music, the Battle, the Revolution