The largest owner of radio stations in the U.S., iHeartMedia Inc., filed for Chapter 11 bankruptcy last week to address $20 billion in debt. “The company said the agreement it ‍reached with holders of more than $10 billion of its outstanding debt would restructure its balance sheet by transferring 94 percent of the stock in the reorganized company to its lenders,” reports Reuters. The company has struggled with significant debt since its $17.9 billion leveraged buyout of Clear Channel Communications in 2008. Radio company Cumulus Media filed for Chapter 11 less than four months ago. Continue reading Radio Company iHeartMedia Files for Bankruptcy Protection

Alphabet is tightening up staffing at Google Fiber, sending hundreds of employees who work at the Google division Access to other parts of the company. Google Fiber, first announced in 2010, is installed in several U.S. cities, but Access revealed in October that it was pulling back on plans to expand to new locations. This isn’t the end of Google Fiber, says a spokesperson, but Alphabet is rethinking its plan moving forward. Although Fiber could be a part of the company’s future, Access has a new focus on wireless technologies. Continue reading Alphabet Stops Expansion of Google Fiber in Favor of Wireless

Texas-based startup MergeVR plans to launch a $129 virtual reality headset this fall that is compatible with Android and iOS devices. While Oculus VR and Samsung have partnered on the mobile Gear VR headset, it is limited to Samsung phones and no launch date for a consumer version has been announced. MergeVR CEO Franklin Lyons explains that his company’s headset works with a range of modern smartphones. “We also are the first in the industry to have a wireless motion controller built to work with mobile VR apps,” he says. Continue reading MergeVR to Ship VR Headset and Controller by Holiday Season

Google announced yesterday that it plans to deliver its Fiber Internet service with speeds of one gigabit per second (100 times faster than average U.S. broadband) to many of the neighborhoods in 18 cities of metro areas including Atlanta, Georgia; Charlotte and Raleigh-Durham, North Carolina; and Nashville, Tennessee. As with its initial three areas, the company will offer its one gigabit Internet service for $70 per month, while an Internet and TV package will cost $120-$130, depending on the location. Continue reading Google Continues Expansion of Ultrafast Fiber Internet Service

AT&T announced plans to bring its high-speed fiber optic network, AT&T U-verse with GigaPower, to as many as 100 cities, including some that are already part of Google Fiber’s planned expansion in the next few years. AT&T and Google have fiber optic development planned in several of the same cities, such as San Antonio, Texas; San Jose, California; Atlanta, Georgia; Charlotte, North Carolina; Nashville, Tennessee; and the Raleigh-Durham region of North Carolina. Continue reading Google and AT&T Race to Expand U.S. Fiber Optic Networks

Google is looking to expand its fiber network to compete with cable operators that currently dominate the broadband market. Google is in talks with 34 cities in nine areas, such as Atlanta, Nashville, Phoenix, Salt Lake City, San Antonio and Portland, Oregon. Google’s new network is currently offered in Kansas City and Provo, and is expanding into the Austin, Texas area. Google Fiber provides download speeds of up to 1 GB per second for $70 per month. Continue reading Google Takes On Broadband Giants with Fiber Expansion Plans