This March 28, 2018, file photo shows a Facebook logo at the company's headquarters in Menlo Park, Calif. Facebook’s plan to create a digital currency used across the world is already raising concern with financial regulators and privacy experts. (AP Photo/Marcio Jose Sanchez, File)
LONDON --
A senior Facebook executive says the social media site is in favor of regulation to address some of the dark problems of the internet.
Nick Clegg, the former leader of the U.K. Liberal Democrat party who now heads global affairs for Facebook, says it is not "for private companies" to decide how to balance free speech versus public harm.
Clegg told the BBC on Monday that companies like Facebook are not "shunning" government intervention but advocating a "sensible way" forward in addressing issues such as cyberbullying or fake news.
Lawmakers have been pushing tech companies to take down offensive content more quickly and to do more in general to halt internet harm. But Clegg says it is up to "democratic politicians in the democratic world" to set the rules.
Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)
DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.
The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.
The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.
DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.
"While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.
The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.
The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.
DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More
