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FCC Lengthens Review of Verizon's Spectrum Deal

Welcome to the cable news roundup, Hump Day edition.

  • The Federal Communications Commission (FCC) 's Wireless Telecommunications Bureau has extended its review of Verizon Wireless 's proposed purchase of Advanced Wireless Services (AWS) spectrum from four cable operators by 21 days. The Communications Workers of America (CWA) , Sprint Corp. (NYSE: S), DirecTV Group Inc. (NYSE: DTV) and other parties were having trouble opening documents and, therefore, required more time to study some materials supplied by Verizon Wireless and the MSOs. Comcast Corp. (Nasdaq: CMCSA, CMCSK) still expects to close the deal later this year, CFO Michael Angelakis said on the MSO's earnings call Wednesday. (See Sprint, DirecTV Try to Stop Wireless Spectrum Review.)

  • Mark Cuban, entrepreneur owner of the Dallas Mavericks basketball team, and Gary Lauder, managing director of Lauder Partners LLC, have together pumped US$1 million into Flingo, a smart TV app publisher operated by Free Stream Media Corp. The investment adds to Flingo's $7 million Series A led by August Capital. Flingo's software brings interactivity and social networking to TVs and second screens such as tablets, PCs and smartphones. Its partners include Samsung Corp. , LG Electronics Inc. (London: LGLD; Korea: 6657.KS) , Vizio Inc. , Sanyo Electric Co. Ltd. (Nasdaq: SANYY), Insignia (Best Buy), Western Digital Corp. (NYSE: WDC) and Netgear Inc. (Nasdaq: NTGR).

  • Technicolor (Euronext Paris: TCH; NYSE: TCH) has asked that trading in its shares be suspended ahead of a board meeting Wednesday that will weigh a proposal from an "international institution" that wants to take a minority stake in the vendor. Technicolor promised to shed more light on the situation after the meeting.

  • Motorola Mobility LLC 's Home segment, which includes its cable equipment business, posted first-quarter revenues of $884 million, down 2 percent from a year ago.

  • Comcast has launched its Xfinity Home security/monitoring service in Michigan, the latest stop on the tour as the MSO looks to introduce the new offer in most of its markets by year's end. (See Comcast Goes Big With Xfinity Home and Will Service Providers Steal ADT's Customers?)

  • LG will release two TV models based on the Google TV platform, targeting the U.S. market, later this month. A 47-inch model will be priced at $1,699, and a 55-incher at $2,299, reports PaidContent, noting that Samsung, Vizio and Sony Corp. (NYSE: SNE) are teeing up new Google TV products for release later this year.

    — Jeff Baumgartner, Site Editor, Light Reading Cable

    Interested in learning more on this subject? We’ll be covering it at our live event: Managing & Monetizing OTT Video – June 21, 2012. Registration details are here.

  • Flook 12/5/2012 | 5:34:15 PM
    re: FCC Lengthens Review of Verizon's Spectrum Deal

    Hope and expect to read the details of this deal in LR

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