Entertainment Bits: MJ’s will reviewed, Facebook stock down again, WGA-West slams Verizon/cable deals
Friday, August 17th, 2012
No surprise that a family feud is underway over the very rich estate of the late pop legend, Michael Jackson. Some of the superstar’s disgruntled siblings have charged his will is a fake. Yes, that’s the will that left the singer’s fortune to various charities, his mother, and his children and nothing to his brothers and sisters. Forbes investigated MJ’s will and here’s a report on what they discovered.
Another bummer of a day for Facebook. The social media giant’s stock has been struggling — today it took another serious tumble. So far, Facebook stock has lost nearly half of its IPO value (initial public offering value back in May). Millions of shares of Facebook were traded today. More on what’s happening with Facebook stock from Reuters.
The Writes Guild of America – West is not to happy with the U.S. Justice Department decision yesterday to clear the way for Verizon to purchase unused airways from several cable providers including Comcast. The WGAW posted a statement about the deal on its website. Here it is.
August 16, 2012
WGAW Statement on Verizon-Cable Deals
“Consumers and content creators were dealt a blow today with the approval of the Verizon-cable company transactions. Despite the limitations put in place by the Department of Justice, some of the largest providers of video, broadband and wireless services will still be able use their power to control these markets. This amounts to a sanctioned collaboration among supposed competitors that will, in fact, reduce competition in telecommunications and close the door on the development of a robust wireless video market that could increase the variety and diversity of content offered to consumers.”
The Writers Guild of America, West (WGAW) is a labor union representing writers of motion pictures, television, radio, and Internet programming, including news and documentaries. Founded in 1933, the Guild negotiates and administers contracts that protect the creative and economic rights of its members. It is involved in a wide range of programs that advance the interests of writers, and is active in public policy and legislative matters on the local, national, and international levels. For more information on the WGAW, please visit: www.wga.org.