The Information

AT&T CEO John Stankey. Photo by Bloomberg.

In WarnerMedia-Discovery Deal, Old-School TV Execs Reclaim Power

By Martin Peers and Jessica Toonkel · May 17, 2021 9:29am PDT · 1 comment

A new team is taking over at WarnerMedia—and it looks a lot like the old-school TV team that ran the company before AT&T bought it. The question is whether that mindset will help or hurt Warner’s ability to remake itself for the digital age. AT&T confirmed Monday morning that it will sell WarnerMedia to Discovery. In comments... A new team is taking over at WarnerMedia—and it looks a lot like the old-school TV team...

Epic Games CEO Tim Sweeney, on the left, leaving the courthouse last week. Photo by Bloomberg.

Midway Through Apple-Epic Trial, Apple Maintains Its Advantage

By Josh Sisco · May 13, 2021 6:01am PDT · 3 comments

App developers are rooting for Epic Games to win its court battle against Apple. Yet some prominent developers told The Information they have grown concerned that the ongoing antitrust trial between Apple and Epic could hurt their own efforts to take on Apple and redefine who controls the economics of consumer apps. That’s because the... App developers are rooting for Epic Games to win its court battle against Apple. Yet some...

Tim Cook, left, and Tim Sweeney. Photos by Bloomberg; Getty Images

Why Apple Has the Edge in Epic Antitrust Trial

By Josh Sisco · Apr 22, 2021 6:00am PDT · 1 comment

In 11 days, Epic Games will square off against Apple in an Oakland, Calif., courtroom in a trial over whether the iPhone maker violated U.S. antitrust law by forcing the videogame app developer to pay certain fees. A win by Epic would reshape the world’s most valuable company and carve a path for competitors and governments to challenge... In 11 days, Epic Games will square off against Apple in an Oakland, Calif., courtroom in a trial...

Screen grab of David Dobrik from YouTube

Spark’s Dispo Decision: A ‘Precursor of What Is to Come’

By Kate Clark · Mar 22, 2021 6:56pm PDT · 2 comments

Screen grab of David Dobrik from YouTube

Spark’s Dispo Decision: A ‘Precursor of What Is to Come’

By Kate Clark · Mar 22, 2021 6:56pm PDT · 2 comments

For Spark Capital, Dispo must have seemed like a stellar investment opportunity: a photo-sharing app co-founded by a YouTube star, David Dobrik, that had become an overnight sensation with young users. Within days of Dispo’s second launch in February, Spark led a $20 million funding round for the startup at a steep $200 million valuation.... For Spark Capital, Dispo must have seemed like a stellar investment opportunity: a photo-sharing...

Lina Khan, photo by Getty Images. Illustration by Mike Sullivan.

What Big Tech Antitrust Foe Lina Khan Could Do at the FTC

By Josh Sisco · Mar 10, 2021 1:46pm PST · 4 comments

The Biden administration’s likely nomination of law professor Lina Khan as a commissioner on the Federal Trade Commission might seem like a call to arms for tech companies. The appointment of Khan, who authored a seminal legal paper on how antitrust law could be used to prevent Amazon from extending its dominance to new businesses, would... The Biden administration’s likely nomination of law professor Lina Khan as a commissioner...

A Kuaishou ad in Beijing. Photo by Bloomberg.

Kuaishou’s Soaring IPO Signals How ByteDance Offering Could Trade

By Juro Osawa, Shai Oster and Yunan Zhang · Feb 5, 2021 3:40am PST

The market debut of Kuaishou offers a hint of what could be in store for TikTok’s owner ByteDance. The live-streaming and short-video app that grew by catering to China’s countryside and smaller cities is now worth nearly $160 billion after its share price nearly tripled on its first day of trading in Hong Kong Friday. That makes... The market debut of Kuaishou offers a hint of what could be in store for TikTok’s owner...

Jeff Bezos and Andy Jassy. Photos by Bloomberg

Amazon’s Shakeup: Five Questions and Answers About the Bezos-Jassy Bombshell

By Nick Wingfield, Amir Efrati and Kevin McLaughlin · Feb 2, 2021 4:24pm PST · 4 comments

Jeff Bezos’ decision to step aside as CEO of Amazon in favor of his lieutenant, Andy Jassy, is an earth-shaking move in the tech industry. Bezos has built Amazon into one of America's biggest companies, with its tentacles in a wide range of businesses. Jassy's appointment also means that four out of the five most iconic tech firms... Jeff Bezos’ decision to step aside as CEO of Amazon in favor of his lieutenant, Andy Jassy,...

Facebook CEO Mark Zuckerberg testifies before a House Financial Services Committee hearing on in Washington, D.C. on Oct. 23, 2019. Photo: AP

Facebook’s Big Risk From Antitrust Suit Is Losing WhatsApp

By Alex Heath and Christopher Stern · Dec 9, 2020 6:20pm PST · 2 comments

Facebook CEO Mark Zuckerberg testifies before a House Financial Services Committee hearing on in Washington, D.C. on Oct. 23, 2019. Photo: AP

Facebook’s Big Risk From Antitrust Suit Is Losing WhatsApp

By Alex Heath and Christopher Stern · Dec 9, 2020 6:20pm PST · 2 comments

Facebook has yet to make much money off WhatsApp, the private messaging app it bought for $19 billion more than six years ago. But if the federal government succeeds in a landmark antitrust lawsuit that seeks to unwind Facebook’s marquee acquisitions, losing WhatsApp would hurt the company’s future ambitions the most. While Instagram... Facebook has yet to make much money off WhatsApp, the private messaging app it bought for $19...

Google CEO Sundar Pichai, Twitter CEO Jack Dorsey and Facebook CEO Mark Zuckerberg (l-r). Photo: Bloomberg

How Facebook, Google, Twitter Diverge in Defense of Tech’s Liability Shield

By Christopher Stern, Nick Bastone and Alex Heath · Oct 27, 2020 5:12pm PDT

When the chief executives of Facebook, Google and Twitter testify Wednesday before a Senate committee on how they control content on their services, they will argue against rolling back Section 230 of the Communications Decency Act, which shields internet companies from lawsuits over user-generated posts. That’s where their agreements may... When the chief executives of Facebook, Google and Twitter testify Wednesday before a Senate...

Mark Zuckerberg. Photo by Bloomberg; photo illustration by Mike Sullivan

Facebook’s Oversight Board for Content Won’t Play Role in November Election

By Alex Heath and Mark Di Stefano · Oct 22, 2020 8:50am PDT

After significant delays, the independent group Facebook created to officiate disputes about content posted by its users is ready to start hearing cases. But the group, called the Oversight Board, is launching too late to meaningfully evaluate controversial posts related to the U.S. elections on Nov. 3. And while Facebook is giving considerable... After significant delays, the independent group Facebook created to officiate disputes about...

Google CEO Sundar Pichai. Photo: Bloomberg

The Real Threat to Google and Alphabet Isn’t Antitrust Case

By Nick Bastone and Christopher Stern · Oct 20, 2020 5:45pm PDT

The just-filed U.S. antitrust case against Google’s web search dominance likely will take years to be resolved and, even if successful, may not cut into Google’s business by much. Instead, competition from powerful companies such as Amazon and Facebook as well as young foes like TikTok pose the biggest risk to Google’s... The just-filed U.S. antitrust case against Google’s web search dominance likely will take...

Sen. Maria Cantwell, the ranking Democrat on the Senate Commerce Committee. Photo: Bloomberg

How Trump Inadvertently Helped Facebook, Twitter Preserve Legal Shield

By Christopher Stern · Oct 1, 2020 2:20pm PDT

Sen. Maria Cantwell, the ranking Democrat on the Senate Commerce Committee. Photo: Bloomberg

How Trump Inadvertently Helped Facebook, Twitter Preserve Legal Shield

By Christopher Stern · Oct 1, 2020 2:20pm PDT

Just when it looked like a small group of Democrats and Republicans had found common ground in their efforts to weaken the tech industry’s immunity to lawsuits over user-posted content, election year politics robbed that group of momentum. With just weeks to go until the Nov. 3 vote, congressional staffers and tech industry advocates say... Just when it looked like a small group of Democrats and Republicans had found common ground in...

Photo: Bloomberg

How China’s ByteDance Avoided Worst-Case Scenario for TikTok

By Juro Osawa, Yunan Zhang and Shai Oster · Sep 14, 2020 8:35pm PDT

Two weeks ago, Microsoft told bankers it was confident it was the frontrunner in a bid to acquire TikTok’s operations in the U.S. against competing bidders such as Oracle. In one discussion with banks about potentially financing the deal for the ascendant viral video app, a Microsoft executive said the company was well-positioned to win... Two weeks ago, Microsoft told bankers it was confident it was the frontrunner in a bid to acquire...

ByteDance may lose TikTok. Photo by Bloomberg

TikTok’s U.S. Retreat Could Heighten ByteDance’s Rivalry with Alibaba, Tencent

By Juro Osawa and Yunan Zhang · Aug 3, 2020 10:32am PDT

TikTok, ByteDance's blockbuster app, may get kicked out of the U.S. and is banned in India. With ByteDance's global expansion stopped cold in two of its most important markets, the powerhouse tech company may refocus its vast energies on its home market in China.In the long run, that could be bad news for Alibaba and Tencent, which... TikTok, ByteDance's blockbuster app, may get kicked out of the U.S. and is banned in India....

An Uber Eats delivery person in Japan. Photo by Bloomberg.

Uber Misses Out on Grubhub—But That May Not Be All Bad

By Amir Efrati · Jun 10, 2020 1:36pm PDT · 2 comments

The planned merger of U.S. online food-ordering pioneer Grubhub and its European counterpart, Just Eat Takeaway—a deal the companies announced on Wednesday—will disappoint investors in Uber. The ride-hailing and food-delivery giant last month offered to buy Grubhub. But Just Eat is a more suitable partner for Grubhub.Just Eat, like... The planned merger of U.S. online food-ordering pioneer Grubhub and its European counterpart,...

A DoorDash delivery person in New York City in March. Photo by Shutterstock

Reality Check: Are Food Delivery Apps Actually Awful Businesses?

By Amir Efrati · May 22, 2020 12:09pm PDT · 10 comments

A DoorDash delivery person in New York City in March. Photo by Shutterstock

Reality Check: Are Food Delivery Apps Actually Awful Businesses?

By Amir Efrati · May 22, 2020 12:09pm PDT · 10 comments

In the past week, Uber’s attempt to buy Grubhub and a memorable story about DoorDash’s money-losing tactics have sparked a wave of critical press and social media dunks on the U.S. restaurant delivery industry.It’s easy to understand why. Countless mom-and-pop restaurants fighting to survive amid the Covid-19 downturn are... In the past week, Uber’s attempt to buy Grubhub and a memorable story about...

AT&T CEO John Stankey. Photo by Bloomberg

Pandemic Forces Studios to Think Outside the Box on Movie Releases

By Jessica Toonkel and Tom Dotan · Apr 22, 2020 12:38pm PDT · 2 comments

It took a pandemic for entertainment executives to consider what they once thought unimaginable: abandoning the decades-old convention of relying on movie theaters as the first place to show a movie. With theaters possibly closed until next year, executives are contemplating new ways to release movies, including embracing previously rejected... It took a pandemic for entertainment executives to consider what they once thought unimaginable:...

The NYSE trading floor last month. Photo: Bloomberg

NYSE Floor Closure Could Drive Trading Elsewhere

By Kevin Dugan · Mar 18, 2020 4:34pm PDT · 1 comment

Starting Monday, the New York Stock Exchange will shut down its trading floor and switch to operating remotely for the first time in its history, after two exchange workers were diagnosed with coronavirus. But with all employees working remotely, the exchange won’t be able to execute about a third of the trades that normally pass through... Starting Monday, the New York Stock Exchange will shut down its trading floor and switch to...

A trader on the floor of the New York Stock Exchange on Tuesday. Photo by AP

As Prices Fall, Private Equity’s Deal Appetite Could Grow

By Kevin Dugan · Mar 10, 2020 1:35pm PDT · 2 comments

Monday’s market decline–the biggest one-day drop since 2008—is rattling markets and is likely to throw tech companies’ initial public offering plans into jeopardy. It may be just the moment that private equity giants have been waiting for.For years, as valuations of private and public tech companies have climbed, some... Monday’s market decline–the biggest one-day drop since 2008—is rattling markets...

Facebook's David Marcus testifying at House Financial Services Committee meeting on Libra last year. Photo by Bloomberg

Four Key Takeaways From Facebook’s Shift on Libra

By Alex Heath · Mar 4, 2020 4:19pm PST

Facebook's David Marcus testifying at House Financial Services Committee meeting on Libra last year. Photo by Bloomberg

Four Key Takeaways From Facebook’s Shift on Libra

By Alex Heath · Mar 4, 2020 4:19pm PST

Facebook is planning some big changes to its Libra cryptocurrency project. On Tuesday, The Information reported that Facebook and the Libra Association—the independent organization Facebook founded to oversee the digital currency—recently decided they will allow people to make online payments using digital versions of existing... Facebook is planning some big changes to its Libra cryptocurrency project. On Tuesday, The...