A coalition of US technology companies has filed a lawsuit against the National Security Agency over the surveillance of their employees, alleging that the surveillance violated their constitutional rights and infringed on their freedom of expression.In the lawsuit, filed Thursday in a Washington federal court, Google, Yahoo, Twitter, LinkedIn, Facebook, PayPal, eBay, Pinterest and Reddit allege t...
by Kevin Winter / Bloomberg / ReutersComcast and Verizon announced Thursday that they will buy a majority stake in an internet service company that they both control.
The combined company, called Spectrum Group, will be called CenturyLink, and it will be owned by Comcast and its chief executive, Brian Roberts, Comcast said in a statement.
The purchase price is $32.5 billion.
The transaction marks the biggest U.S. investment in the internet service industry in decades, and CenturyLink will have a net income of $11.6 billion by 2021, Comcast Chief Executive Brian Roberts said.
The deal was first reported by Bloomberg and the Wall Street Journal.
The Journal said it had confirmed that Comcast had completed a $1 billion deal to buy Time Warner Cable Inc. in November.
In addition to buying Spectrum Group from Comcast, Roberts and Comcast are also buying a minority stake in the New York Times Co., the Wall St. Journal reported.
In November, the companies also agreed to pay $7.7 billion for AOL, the online news and information company.
In a statement, Roberts said the purchase was necessary to protect the company’s investments in broadband and technology and to improve the ability of Comcast to grow its broadband business.