In this July 3, 2017, file photo, Apple co-founder Steve Wozniak gestures as he attends a conference titled 'The Innovation Summit' in Milan, Italy. Wozniak is shutting down his Facebook account as the social media giant struggles to cope with the worst privacy crisis in its history. (AP Photo/Luca Bruno, File)
SAN FRANCISCO (AP) --
Apple co-founder Steve Wozniak is shutting down his Facebook account as the social media giant struggles to cope with the worst privacy crisis in its history.
In an email to USA Today, Wozniak says Facebook makes a lot of advertising money from personal details provided by users. He says the "profits are all based on the user's info, but the users get none of the profits back."
Wozniak says he'd rather pay for Facebook. He says "Apple makes money off of good products, not off of you."
Facebook CEO Mark Zuckerberg will testify on Capitol Hill on Tuesday and Wednesday about the company's ongoing data-privacy scandal and how it failed to guard against other abuses of its service.
Facebook has announced technical changes intended to address privacy issues.
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
