UK investigating Cambridge Analytica, Facebook

Members of the audience put up their hands during the question section at the end of a talk from Chris Wylie, from Canada, who once worked for the UK-based political consulting firm Cambridge Analytica, entitled "The Most Important Whistleblower Since Snowden: The Mind Behind Cambridge Analytica" at the Frontline Club in London, Tuesday, March 20, 2018. (AP)
Updated 21 March 2018
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UK investigating Cambridge Analytica, Facebook

LONDON: Britain’s information commissioner says she is using all her legal powers to investigate Facebook and political campaign consultants Cambridge Analytica over the alleged misuse of millions of people’s data.
Commissioner Elizabeth Denham is pursuing a warrant to search Cambridge Analytica’s servers. The company allegedly used data mined from Facebook to help Donald Trump win the 2016 presidential election.
She told BBC on Tuesday she is also investigating Facebook and has asked the company not to pursue its own audit of Cambridge Analytica’s data use. She said Facebook has agreed.
“Our advice to Facebook is to back away and let us go in and do our work,” she said.
Cambridge Analytica said it is committed to helping the UK investigation and offered to share all the information it has asked for. It did not specify whether it would give access to its servers.
Denham said the prime allegation against Cambridge Analytica is that it acquired personal data in an unauthorized way, adding that the data provisions act requires platforms like Facebook to have strong safeguards against misuse of data.
Chris Wylie, who once worked for Cambridge Analytica, was quoted as saying the company used the data to build psychological profiles so voters could be targeted with ads and stories.
Denham launched her investigation after weekend reports that Cambridge Analytica improperly used information from more than 50 million Facebook accounts. Facebook has suspended the company from the social network.
Britain’s Channel 4 used an undercover investigation to record Cambridge Analytica’s chief executive, Alexander Nix, saying that the company could use unorthodox methods to wage successful political campaigns for clients.
He said the company could “send some girls” around to a rival candidate’s house, suggesting that girls from Ukraine are beautiful and effective in this role.
He also said the company could “offer a large amount of money” to a rival candidate and have the whole exchange recorded so it could be posted on the Internet to show that the candidate was corrupt.
Nix says in a statement on the company’s website that he deeply regrets his role in the meeting and has apologized to staff.
“I am aware how this looks, but it is simply not the case,” he said. “I must emphatically state that Cambridge Analytica does not condone or engage in entrapment, bribes or so-called ‘honeytraps’, and nor does it use untrue material for any purposed.”
The data harvesting used by Cambridge Analytica has also triggered calls for further investigation from the European Union, as well as federal and state officials in the United States.


Comcast outbids Fox with $40 billion offer for Sky in auction

Rupert Murdoch, chairman of News Corp and co-chairman of 21st Century Fox, arrives at the Sun Valley Resort of the annual Allen & Company Sun Valley Conference, July 10, 2018 in Sun Valley, Idaho. (AFP)
Updated 23 September 2018
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Comcast outbids Fox with $40 billion offer for Sky in auction

  • Disney agreed a separate $71 billion deal to buy most of Fox’s film and TV assets, including its existing 39 percent stake in Sky, in June and would have taken full ownership after a successful Fox takeover

LONDON: Comcast beat Rupert Murdoch’s Twenty-First Century Fox in the battle for Sky on Saturday after offering 30.6 billion pounds ($40 billion) in a dramatic auction to decide the fate of the pay-television group.
The US cable giant bid 17.28 pounds a share for control of London-listed Sky, bettering a 15.67 pounds-a-share offer by Fox, Britain’s Takeover Panel said.
Buying Sky will make Philadephia-based Comcast, which owns the NBC network and Universal Pictures, the world’s largest pay-TV operator with around 52 million customers.
Chairman and chief executive Brian Roberts has had his eye on Sky as a way to help counter declines in subscribers for traditional cable TV in its core US market as viewers switch to video-on-demand services like Netflix and Amazon .
“This is a great day for Comcast,” he said. “This acquisition will allow us to quickly, efficiently and meaningfully increase our customer base and expand internationally.”
Comcast’s knock-out offer thwarted Murdoch’s long-held ambition to win control of Sky, and is also a setback for US entertainment giant Walt Disney which would have likely been its ultimate owner.
Disney agreed a separate $71 billion deal to buy most of Fox’s film and TV assets, including its existing 39 percent stake in Sky, in June and would have taken full ownership after a successful Fox takeover.
Comcast’s final offer was significantly higher than its bid going into the auction of 14.75 pounds, and compares with Sky’s closing price of 15.85 pounds on Friday.
Comcast believed it needed to deliver a knock-out blow given that Fox’s existing stake in Sky gave it a chance of victory if it was a close second to Comcast, two sources said.
Comcast’s final offer — more than double Sky’s share price before Fox made its approach in December 2016 — quickly won the backing of Sky’s independent directors on Saturday.
“We are recommending it as it represents materially superior value,” said Martin Gilbert, chairman of Sky’s independent committee. “We are focused on drawing this process to a successful and swift close and therefore urge shareholders to accept the recommended Comcast offer.”
Fox will now concede defeat, a source told Reuters.
It is reviewing options for its stake, a holding that stems from Murdoch’s role in the creation of the company nearly three decades ago, the source said.
Fox declined to comment.
Comcast, which requires 50 percent plus one share of Sky’s equity to win control, said it was also seeking to buy Sky shares in the market.

HUGE PRICE
One hedge fund manager who holds Sky shares said nobody could complain about the Comcast price.
“The question now is if Fox actually sells out and if not can Comcast get to 50 percent,” he said.
Another hedge-fund manager said it was a “huge” price, and shareholders would accept it.
Sources familiar with the matter said Fox, Disney and Comcast had not been in discussions about the 39 percent stake.
The quick-fire auction marked a dramatic climax to a protracted transatlantic bidding battle waged since February, when Comcast gate-crashed Fox’s takeover of Sky.
It is a blow to 87-year-old Murdoch and the US media and entertainment group that he controls, which had been trying to take full ownership of Sky since December 2016.
Murdoch’s son James, currently chairman of Sky, was instrumental in building the company into the leading European pay TV group, with operations in Britain, Ireland, Germany, Austria and Italy, and more than 23 million customers attracted to its top-flight sport and entertainment content.
Sky’s chief executive Jeremy Darroch said it was the beginning of a new chapter. “Sky has never stood still, and with Comcast our momentum will only increase,” he said. ($1 = 0.7648 pounds)