Qualcomm’s decision to terminate its $44 billion agreement to buy NXP Semiconductors (see 1807250062) “was a difficult one,” but “continued uncertainty overhanging such a large acquisition introduces heightened risk,” said Qualcomm CEO Steve Mollenkopf on a Wednesday earnings call hours after announcing the decision. Ending the deal triggered Qualcomm’s payment to NXP Thursday of a $2 billion termination fee, said Qualcomm. Its shares closed 7 percent higher Thursday at $63.58, while NXP shares closed 5.7 percent lower at $92.81.
Creating an FTC Technology Bureau would let the agency better evaluate competition and consumer protection cases, said Commissioner Rebecca Kelly Slaughter Thursday. Former Commissioner Terrell McSweeny, a fellow Democrat, championed the idea, Slaughter noted at New America's Open Technology Institute.
The U.S. could be headed down the same unproductive path for the 2019 World Radiocommunication Conference that it trod at WRC-15, when it faced international pushback against its positions, FCC Commissioner Mike O'Rielly said at a Federalist Society event Thursday. He said there needs to be more cooperation on a U.S. position to avoid that outcome. He's "incredibly troubled" by nations that act on parochial interests and try to block the U.S. for competitive purposes.
Parties bombarded the FCC with conflicting advice on one-touch, make-ready plans and other pole-attachment proposals in a draft order aimed at facilitating broadband deployment. Electric utilities pushed for changes to proposed communications provider self-help in the power spaces on poles, and cable continued voicing concern about OTMR treatment of existing attachments. Incumbent telcos sought stronger action to lower the attachment rates they pay pole owners, though Verizon backed OTMR and others supported agency proposals. Filings were posted in docket 17-84 Thursday as lobbying restrictions took effect and the draft was included in the agenda for the Aug. 2 commissioners' meeting.
The FCC attaching deadlines to the Sinclair/Tribune hearing designation order to help speed the proceeding was a relative novelty for the agency, but other federal agencies frequently use deadlines for administrative law proceedings, administrative law judges and other experts told us. Brooke Ericson, chief of staff for Commissioner Mike O'Rielly, who spearheaded the HDO deadlines language, said O'Reilly has about 50 other agency process changes he hopes to pitch to Chairman Ajit Pai. She said it includes others dealing with the ALJ process like eliminating such hearings.
The FCC Broadband Deployment Advisory Committee approved tweaks to its model code for municipalities, which is designed to speed siting and eliminate roadblocks imposed by cities. BDAC earlier approved the code itself, subject to harmonization with a state code. It was voting Thursday on sections of the model for states later in the afternoon. The full panel approved the harmonized muni code with a single abstention.
A 12 percent year-on-year decline in Silicon Labs’ Q2 access business was partially attributable to the U.S. government’s ban on shipments to ZTE, said Chief Financial Officer John Hollister on a Wednesday earnings call. Since the ban's lifting this month (see 1807130048), the company is in talks with the Chinese telecom gearmaker “to determine their resumption of production activity and consumption rates,” said Hollister.
Initial subscriber response to the Android and iOS streaming apps that SiriusXM introduced in May, including launch of the company’s first Howard Stern video offering (see 1804250005), “has been excellent, with engagement climbing and strong ratings in the app stores,” said CEO Jim Meyer on a Wednesday earnings call. The apps are part of a “major push” to use streaming “to drive engagement with SiriusXM outside of the car,” said Meyer.
Sens. Ted Cruz and John Cornyn, Republicans from Texas, told us they’re working to amend music copyright legislation after concerns raised by Blackstone Group (see 1807240054). Two prominent songwriter groups accused the private equity firm and its music licensing entities of a greedy political play that could sink rare consensus music copyright change.
Senate Commerce Committee staff is eyeing ways to combine language from a set of bills on 5G and broadband deployments for potential committee action later this year, Chairman John Thune, R-S.D., told reporters after a Senate Communications Subcommittee hearing on fifth-generation. Lawmakers and industry witnesses invoked bills Wednesday they view as ways to help ensure the U.S. leads global development of 5G. Senate Communications members noted the race for U.S. dominance of the technology as a reason for the federal government to clear T-Mobile's proposed buy of Sprint and concerns that President Donald Trump's administration hasn't fully backed away from a proposal the U.S. build a nationalized fifth-gen network.