Business News Roundup, Aug. 13
Vox Media has landed a $200 million strategic investment from NBCUniversal, forming a partnership between the new and old media companies to collaborate on programming, advertising and technology.
Announced Wednesday, the deal values Vox — home to eight thematic digital media brands including SB Nation, Polygon, the Verge and Vox.com — at about $1 billion, according to an executive with knowledge of the negotiations who spoke on condition of anonymity.
NBCUniversal, which is owned by Comcast, is readying an investment of about $200 million in digital media hub BuzzFeed, according to two other executives who also spoke on the condition of anonymity.
Shipments fell in every worldwide region “with no reason to believe that growth will return in the short term,” the research firm said.
Sales in high-growth markets are dwindling as large-screen smartphones grow in popularity.
[...] tablets will have to compete with a new wave of two-in-one laptop hybrids designed to take advantage of Windows 10.
Cisco Systems posted solid fiscal fourth-quarter results Wednesday, sending the computer networking gear maker’s shares higher in after-hours trading.
Cisco said revenue from its collaboration and data center businesses improved.
The San Jose seller of routers, switches, software and services said it’s selling more subscription-based and software products.
Shares of Cisco added $1.05, or 3.8 percent, to $28.95 in after-hours trading.
Excluding one-time charges and gains, the company said it earned 59 cents per share.
Analysts had expected net income of 56 cents per share and $12.66 billion in revenue, according to Zacks Investment Research.
The Dallas Morning News reports that her lawsuit seeks more than $1 million for medical expenses and damages.