RadioShack Goes Bankrupt Once Again
General Wireless Operations is a partnership between Standard General (a hedge fund) and Sprint ($S). It was created in 2015 for the express purpose of purchasing the RadioShack brand, all 1,700+ of their stores, and turn them into a viable, profitable business. Unfortunately, their plan failed, as the company is now filing for Chapter 11 bankruptcy. Before the filing, the company was in the process of shutting 200 locations down. Several hundred remaining stores will be turned into Sprint locations, while the rest will continue to exist…for now.
SoftBank Might Sell Part of ARM
SoftBank, the publicly traded Japanese company that owns the aforementioned Sprint, bought ARM Holdings last year. ARM Holdings designs all non-Intel/AMD processors in mobile devices, connected devices, and plenty of connected devices in your home. Now, SoftBank is allegedly in the process of selling a quarter of their holdings in ARM for $8 billion. The supposed buyer would be a fund created by Masayoshi Son, SoftBank’s Chief Executive, as part of a $100 billion technology initiative. While the reasons for selling to the fund are unclear, the fund is not solely owned by SoftBank. It has partners in countries like Saudi Arabia and several other countries.
Isn’t Streaming the Best?
Streaming video subscriptions outnumber cable and satellite subscriptions, according to a new survey conducted by the Consumer Technology Association. While the survey pooled a set number of people and not every single cable TV/Roku-owning household, 68% of Americans subscribe to a streaming video service, while 67% have a pay-TV service. This is the first sign that cord-cutters are winning the war against bloated, bulky cable packages and unsightly boxes. For full results of the survey, head over to Yahoo Finance.