Citing a desire for greater scale in their combined markets, supermarket chains Winn-Dixie and Bi-Lo are merging.

Bi-Lo agreed today to purchase Winn-Dixie for $9.50 a share- about 75% higher than the stock’s closing price Friday- in a $560 million buyout. Currently, the chains do not overlap in market geographically- Winn-Dixie owns 480 locations in Florida, Georgia, Alabama, Mississippi and Louisiana; while Bi-Lo has 207 locations in South Carolina, North Carolina, Tennessee and Georgia.

No stores for either brand are expected to close due to the merger, and both brands are expected to remain intact as the companies move forward. In the past decade, both Bi-Lo and Winn-Dixie have filed for forms of bankruptcy protection, the former in 2009 and the latter in 2005. Winn-Dixie “closed hundreds of locations” after its mid-00s financial struggles.

The companies released a joint statement this morning about the merger, and R. Randall Onstead Jr., Bi-Lo’s chairman, commented:

“With no overlap in our markets, the combined company will have a perfect geographic fit that will create a stronger platform from which to provide our customers great products at a great value, while continuing to offer exceptional service. BI-LO and Winn-Dixie are both strong regional brands with similar heritages, compelling customer connections, and outstanding employees. Both have been an important part of the communities and families they serve, and we look forward to building upon these two iconic brands and serving loyal customers for years to come.”

Winn-Dixie CEO Peter Lynch said:

“This transaction with BI-LO provides Winn-Dixie shareholders with a significant cash premium for their shares. We believe this transaction is in the best interests of our shareholders. By combining BI-LO and Winn-Dixie, we anticipate building a company that is stronger than our individual businesses and creating opportunities for continued advancement through the cross-pollination of our people and the sharing of ideas across our organizations, all to the benefit of our guests, suppliers, team members and the neighborhoods that Winn-Dixie serves.”

Until the transaction is complete, both entities will operate separately.

Winn-Dixie Bought By Bi-Lo, Chains to Merge is a post from: The Inquisitr

AT&T announced today that they will buy T-Mobile USA from Deutsche Telekom for $39 billion. The purchase, if approved, will allow AT&T to overtake Verizon Wireless as the largest mobile network in the United States.

The merger will mean a combined user network of more than 128 million subscribers, while AT&T will gain access to the 1700Mhz AWS Spectrum purchased by T-Mobile in what was considered a high-stakes FCC auction.

The merger, once approved by the FCC will mean the U.S. is left with just three major carriers, AT&T, Verizon and Sprint. That lack of competition has some consumer advocates worried that higher prices could be on the horizon, however AT&T is expected to continue T-Mobile contract pricing for existing customers until their contracts expire (AT&T pricing tends to be higher than T-Mobile pricing). However, as the U.S. Government Accountability Office has pointed out, subscriber costs have dropped by 50 percent from 1999 through 2009, a period of many wireless company acquisitions.

The move will also mean a loss of jobs for some company workers with AT&T expected to save $40 billion over the next three years by shutting down overlapping retail outlets and using existing T-Mobile cellular towers in place of building new towers which will hurt the retail and construction sectors. The company will also shudder millions in marketing costs by combining the company’s marketability.

If the deal fails to be approved by governmental regulators, AT&T Wireless has agreed to pay Deutsche Telcom a massive $3 billion breakup deal, which means AT&T will be pushing hard against regulators to approve the deal. As part of their efforts, AT&T is promising federal regulators that they will push out their 4G technology to 95% of the country, including rural and small town areas.

For carrier subscribers worried about the switch over and the usefulness of their devices, AT&T will simply gain control of T-Mobiles 1900Mhz cellular towers which will continue to offer service in most cases to users and their devices. AT&T can then choose to broadcast their own 850Mhz devices on those towers as they deem necessary.

What do you think about the merger of T-Mobile with AT&T. For their part T-Mobile has won numerous awards for their excellent customer service, something AT&T would do well to learn from.

T-Mobile Being Gobbled Up By AT&T For $39 Billion is a post from: The Inquisitr

So the big gets bigger as the Comcast deal to buy NBC passes through the FCC and the Justice Department.

In a 4 – 1 vote the FCC approved the deal but not without FCC Chairman Julius Genachowski pushing for some strong regulation, such as forbidding Comcast from cutting sweetheart deals when it comes to NBC content; or the prioritizing of its video traffic on its pipes.

While we are still waiting to see what the final rulings will be the one negative vote came from Commissioner Michael Copps who said that the deal “opens the door to the cable-ization of the open Internet”.

For those of you interested there is apparently going to be conference call at 4 PM which I am sure will be well covered by tech blogs.

In the meantime all I can say about this is that this isn’t going to end well for the consumer.

Here is the complete press release for the deal courtesy of Engadget:

COMCAST AND GE RECEIVE REGULATORY CLEARANCE FOR
NBC UNIVERSAL TRANSACTION

PHILADELPHIA, PA, AND FAIRFIELD, CT – January 18, 2011 – Comcast (Nasdaq: CMCSA, CMCSK) and General Electric (NYSE: GE) announced today that they have received regulatory clearance from the Federal Communications Commission (FCC) and the Department of Justice for the joint venture that will consist of the NBC Universal businesses and Comcast’s cable networks, regional sports networks and certain digital properties. The joint venture will be 51 percent owned by Comcast, 49 percent owned by GE and managed by Comcast. The transaction is expected to be completed by the end of January.

“This is a proud and exciting day for Comcast,” said Brian L. Roberts, Chairman and Chief Executive Officer of Comcast. “We are grateful for the leadership of FCC Chairman Julius Genachowski, Assistant Attorney General Christine Varney, the other FCC Commissioners and their staffs for the months of hard work that went into reviewing an unprecedented number of documents and public comments.”

“The NBC Universal joint venture will be well positioned to compete, innovate, and bring new choices to consumers,” Mr. Roberts continued. “Our original vision for the combination remains intact so that consumers will benefit, and our competitors will be treated fairly. We are pleased that many of the voluntary commitments we proposed beginning the day the transaction was announced and continuing throughout the process have been incorporated into the FCC’s Order.”

Under the terms of the transaction, GE will contribute to the joint venture NBC Universal’s businesses, including its cable networks, filmed entertainment, televised entertainment, theme parks and unconsolidated investments. Comcast will contribute its cable networks, including E!, Versus and the Golf Channel, its regional sports networks and certain digital media properties, and make a payment to GE subject to certain adjustments based on various events between signing and closing.

GE Chairman and CEO Jeff Immelt said, “NBCU has been a great business for GE over the past 20 years, generating an average annual return of 11 percent. Reducing our ownership stake from 80 percent to 49 percent allows GE to continue sharing in NBCU’s growth while also providing significant cash to invest in our high-technology infrastructure businesses, growing an attractive dividend, and continuing our buyback program. This transaction will have generated approximately $8 billion of cash at closing with an expected small after-tax gain. We are confident the NBCU team will continue to be in good hands under Brian Roberts, Steve Burke and the Comcast team’s leadership.”

“Bringing the legendary assets of NBC Universal together with the content assets and technology expertise of Comcast will create many new opportunities for consumers. The combination of these assets will allow us to bring the future of anytime, anywhere media faster to consumers in America and around the globe,” said Steve Burke, who will become Chief Executive Officer of NBC Universal at the official close of the transaction.

Additional information regarding the transaction can be found at www.comcast.com/nbcutransaction.

About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA, CMCSK) (www.comcast.com) is one of the nation’s leading providers of entertainment, information and communication products and services. With 22.9 million video customers, 16.7 million high-speed Internet customers, and 8.4 million Comcast Digital Voice customers, Comcast is principally involved in the development, management and operation of cable systems and in the delivery of programming content.

Comcast’s content networks and investments include E! Entertainment Television, Style Network, Golf Channel, VERSUS, G4, PBS KIDS Sprout, TV One, regional sports networks operated by Comcast Sports Group and Comcast Interactive Media, which develops and operates Comcast’s Internet businesses, including Comcast.net (www.comcast.net). Comcast also has a majority ownership in Comcast-Spectacor, which owns two professional sports teams, the Philadelphia 76ers NBA basketball team and the Philadelphia Flyers NHL hockey team, and a large, multipurpose arena in Philadelphia, the Wells Fargo Center, and, through Global Spectrum, manages other facilities for sporting events, concerts and other events.

About GE
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company’s website at www.ge.com.

Caution Concerning Forward-Looking Statements:
This release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. These statements are made on the basis of the views and assumptions of management. Particular uncertainties that could cause actual results to be materially different than those expressed in these forward-looking statements include: the timing of the closing of the transaction; adverse developments in the business and operations of NBC Universal, including potential disruption that may make it more difficult to maintain business and operational relationships; the successful combination, operation and overall performance of the joint venture post closing; the ability to integrate the programming assets of Comcast and NBC Universal in the new joint venture; the ability of the new joint venture to create popular programming, to develop new digital products and services, and to succeed in the highly competitive media industry; the ability of the new joint venture to generate attractive financial returns and strong cash flows; and, the effect of any conditions that regulators have imposed in permitting the transaction to proceed. These uncertainties may cause actual future results to be materially different than those expressed in these forward-looking statements. None of GE, Comcast nor NBC Universal undertake to update these forward looking statements.

Comcast purchase of NBC a done deal is a post from: The Inquisitr

We all know that Comcast really, really, wants this purchase of NBC to go through. The question is though what are they willing to do in order to help along the process through the various regulatory hearings it is bound to face?

Well it turns out they are willing to pay … errrr …. donate a lot of money to Congressional Representatives. According to the Intellectual Property Watch site 84 of 97 of the Reps received money from Comcast in amounts ranging from $1,000 up to $25,000.

OpenSecrets.org has the complete list of who received money and how much, with a larger percentage going to Democrats.

I think we can be pretty sure that the deal will go through.

Buying Congressional favoritism to support Comcast/NBC merger is a post from: The Inquisitr

Intuit, purveyors of what may be the world’s most feature-restricted software (Quickbooks) is acquiring Mint.com.

It’s a move that’s already prompted some to close their Mint accounts, and is sure to, if anything, erode confidence in the popular web-based service. Mint is one of those things that people evangelize about, a service that, in theory, is supposed to corral all of your accounts into one handy place and simplify your financial management chores. I so wanted Mint to work for me. I painstakingly entered all my accounts, never fearing a security breach (like some who wanted to try it but were reluctant) and then… it never got up and running, for me. Despite having verified the logins time and time again (logging onto Mint, then using the same bank or credit account pages to verify over and over that my information was correct) Mint was never even able to update one account for me. I gave up after 4-6 weeks of trying, and even now, I get weekly e-mails showing my accounts, frozen in time last November.

But for some people, apparently it worked beautifully. Now some fans are afraid that the company that has unneccesarily added to their workload might add the same restricted functionality and painful maintenance to their beloved personal financial organization program. I don’t blame them. Commenters on Consumerist summed up user sentiment on the issue pretty well:

PhilFR: “Ugh. This is a sad day. Mint has made my personal finances infinitely more organized. The only question is which will happen first: will Quicken screw up the product, or start charging for it?”

Blueoysterjoe: “What, Intuit will buy Mint and suddenly have great ideas about how to run a personal finance website? No. Intuit will apply its crappy ideas to Mint and turn Mint into crap.”

calchip: “Long ago and far away, Intuit made a great little product called Quicken that sold for 10 bucks. Then they came out with Quickbooks, which in its original incarnation, sold for maybe 100 bucks and did everything.

More recently, Intuit has turned into a complete and total piece of sh*t company that gives you the privilege of paying $250 for a crappy, bloated, crippled piece of software that nags you every single time you use it to buy more of their overpriced crap, refuses to support a product that’s more than 2 years old, and basically makes a product that is almost unusuable unless you’re willing to pay hundreds of dollars a year for crap that you either don’t need or should have been (and was at one time) included in the basic product.

I wish the management of this company would shrivel up and die and be replaced by people that actually believe in *earning* a customer’s business rather than shoving services fees down their throats.

This can only be a bad, bad sign for mint.com. I wonder how long till they ruin it?”

On news of the acquisition, shares of Intuit climbed 6 cents each. Mint sold for $170m, and the deal is expected to be finalized in Q4. So what do you think? Do you trust the people behind Quickbooks to run Mint or are you going to flee, too?

[Source: NYT]

Mint.com + Intuit = Bad Math? is a post from: The Inquisitr

Google announced today that they picked up video compression developer On2 Technologies in a $106.5m stock-for-stock acquisition.

With clients including Adobe, Skype, Sun Java and Move Networks, On2 claims that 2 billion of their codecs have already been installed. Nokia, Samsung, Sony, Infineon, Mediatek, Atmel and Freescale are all listed as using On2 embedded technologies. The deal is subject to shareholder and regulatory approval, and should be wrapped up in Q4.

Full text of the press release, below:

August 5th, 2009
CLIFTON PARK, NY and MOUNTAIN VIEW, Calif. (August 5, 2009) – On2 Technologies, Inc. (NYSE Amex: ONT) and Google Inc. (NASDAQ: GOOG) jointly announced today that they have entered into a definitive agreement under which Google will acquire On2, a leading developer of video compression technology. Under the terms of the agreement, each outstanding share of On2 common stock will be converted into $0.60 worth of Google class A common stock in a stock-for-stock transaction. The transaction is valued at approximately $106.5 million.

“Today video is an essential part of the web experience, and we believe high-quality video compression technology should be a part of the web platform,” said Sundar Pichai, Vice President, Product Management, Google. “We are committed to innovation in video quality on the web, and we believe that On2′s team and technology will help us further that goal.”

“We’re thrilled that On2 is joining one of the world’s most innovative companies,” said Matt Frost, interim CEO of On2. “After intensive review of On2 products, Google confirmed our long-held beliefs as to the quality of our video technologies. This transaction is a testament to the hard work of every On2 employee and the strongest possible endorsement of our products and people. On2 will continue to improve, support and sell our products throughout the transition. We believe that Google shares our ambitions and know that our products and expertise, combined with Google’s globally recognized brand, ingenuity and resources, will create an incredible team.”

The number of shares of Google class A common stock to be received by On2 stockholders will be determined by dividing $0.60 per share by the volume weighted average trading price of a share of Google class A common stock based on the sales price of every share of Google class A common stock traded during the twenty trading-day period ending on and including the second trading day prior to the date of the meeting of On2′s stockholders to consider and vote on the merger agreement.

$0.60 per share represents a premium of approximately 57% over the closing price of On2′s common stock on the last trading day immediately prior to the announcement of the transaction, and a premium of approximately 62% over the average closing price of On2′s common stock for the six month period immediately prior to the announcement of the transaction.

The transaction, which is subject to On2 stockholder approval, regulatory clearances and other closing conditions, is expected to close in the fourth quarter of 2009.

Wilson Sonsini Goodrich & Rosati and Potter Anderson & Corroon served as legal counsel to Google, and Credit Suisse provided M&A advisory services to Google. Covington Associates, LLC served as financial advisor to On2 and its board of directors and Duff & Phelps, LLC served as an independent financial advisor to On2′s board of directors, and each of them provided an opinion as to the fairness, from a financial point of view, to the public stockholders of On2 of the exchange ratio in the proposed transaction. Hogan & Hartson LLP and Richards, Layton & Finger served as legal counsel to On2.

About On2 Technologies, Inc.
On2 (NYSE Amex: ONT) creates advanced video compression technologies that power the video in today’s leading desktop and mobile applications and devices. On2 customers include Adobe, Skype, Nokia, Infineon, Sun Microsystems, Mediatek, Sony, Brightcove, and Move Networks. On2 Technologies is headquartered in Clifton Park, NY USA. For more information, visit www.on2.com or www.on2.cn.

About Google Inc.
Google’s innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google today is a top web property in all major global markets. Google’s targeted advertising program provides businesses of all sizes with measurable results, while enhancing the overall web experience for users. Google is headquartered in Silicon Valley with offices throughout the Americas, Europe and Asia. For more information, visit www.google.com.

Caution Concerning Forward-Looking Statements
This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected timing of the acquisition, Google’s and On2′s ability to close the acquisition, Google’s ability to integrate On2′s technology and employees, and the expected benefits of the acquisition, including that the acquisition will further Google’s goal to enhance the web experience with video. These statements are based on the current expectations or beliefs of managements of Google Inc. and On2 Technologies, Inc., and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to (1) changes in economic, business, competitive, technological and/or regulatory factors, (2) failure to receive the required stockholder and regulatory approval for the acquisition, (3) failure to compete successfully in this highly competitive and rapidly changing marketplace, (4) failure to retain key employees, and (5) other factors affecting the operation of the respective businesses of Google and On2. More detailed information about these and other factors that may affect current expectations may be found in filings by Google or On2, as applicable, with the Securities and Exchange Commission, including their respective most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Google and On2 are under no obligation to, and expressly disclaim any such obligation to, update or alter their respective forward-looking statements, whether as a result of new information, future events, or otherwise.

Additional Information and Where to Find It
Google plans to file with the Securities and Exchange Commission (the ‘SEC’) a Registration Statement on Form S-4 in connection with the transaction, which will include a Proxy Statement of On2 that also constitutes a Prospectus of Google. On2 will mail the Proxy Statement/Prospectus to its stockholders in connection with the transaction. The Registration Statement and the Proxy Statement/Prospectus will contain important information about Google, On2, the transaction and related matters. Investors and security holders are urged to read the Registration Statement and the Proxy Statement/Prospectus carefully when they are available. Investors and security holders will be able to obtain free copies of the Registration Statement and the Proxy Statement/Prospectus and other documents filed with the SEC by Google and On2 through the web site maintained by the SEC at www.sec.gov and by contacting Google Investor Relations at +1-650-253-7663 or On2 Investor Relations at +1-518-881-4299. In addition, investors and security holders will be able to obtain free copies of the documents filed with the SEC on Google’s website at investor.google.com and on On2′s website at www.on2.com.

Participants in the Solicitation
Google, On2 and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding Google’s executive officers and directors is included in Google’s definitive proxy statement, which was filed with the SEC on March 24, 2009, and information regarding On2′s executive officers and directors is included in On2′s definitive proxy statement, which was filed with the SEC on April 7, 2009. The Proxy Statement / Prospectus for the proposed transaction will provide more information about participants in the solicitation of proxies from On2 stockholders, which participants may have interests different from On2 stockholders generally. You can obtain free copies of these documents from Google or On2 using the contact information above.

Google acquires On2 Technologies is a post from: The Inquisitr

In a corporate-speak heavy press release this morning, Intel announced a “definitive agreement” to acquire Wind River Systems.

Intel indicated a price tag of $11.50 a share for a total of $884 million- a hefty 44% over Wind River’s closing price at the bell on Wednesday. Wind River’s stock recently fell from a high of $12.99 in August to a low of $5.61 in March.

Per their website, Wind River is a “global leader in (DSO)- device software optimization.” Intel described a partnership designed to move beyond its core market of PC and server technology and into mobile, small footprint devices such as smartphones- not a bad plan as super-cheap netbooks steadily gobble up market share from desktops and laptops.

In a statement, Intel detailed the opportunities sought:

“The acquisition will deliver to Intel robust software capabilities in embedded systems and mobile devices, both important growth areas for the company. Embedded systems and mobile devices include smart phones, mobile Internet devices, other consumer electronics (CE) devices, in-car “info-tainment” systems and other automotive areas, networking equipment, aerospace and defense, energy and thousands of other devices. “

Translation: streaming porn onto your phone during lunch is about to get even easier!

Intel goes shopping, drops $884m on Wind River Systems is a post from: The Inquisitr