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Timothy B. Lee

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Posted at 12:15 PM ET, 11/05/2012

Netflix adopts shareholders rights plan #thecircuit

Netflix introduces stakeholder plan: Netflix announced Monday that it’s introducing a new stakeholders’ rights plan. As the Associated Press reported, the plan should insulate the company’s investors in the case of a hostile takeover.

The new plan follows last week’s announcement from Carl Icahn that he now has a 10 percent stake in Netflix — an announcement that sent Netflix’s stock spiking over 15 percent.

According to the plan, each share of common stock will be issued one right, exerciseable if a person or group acquires 10 percent of Netflix or if an institutional investor acquires 20 percent of the company in a deal not approved by the board.

The plan is not intended, Netflix said, to interfere with any deals that carry board approval.

E.U. planning more 4G spectrum allocation: The European Union is planning to release a new spectrum to give mobile and Web-based companies more room for 4G wireless services, Reuters reported.

The plan, announced Monday, is designed to address the rise in demand for airwaves to accomodate smartphones and other mobile devices. According to the report, the plan would give the European Union “twice the amount” of spectrum that the U.S. has for high-speed wireless access.

The report said global mobile traffic is expected to jump 25 percent each year by 2015 and that traffic in the E.U. alone is forefast to increased more than 90 percent annually for the next five years.

Apple sells 3 million iPad minis, iPads in first weekend: Apple announced Monday that it sold 3 million iPad mini and iPad models over the devices’ debut weekend. But the company did not break down those sales figures by model, so it’s hard to say how strong demand has been for either the iPad mini or the fourth-generation iPad.

Analysts expected the iPad mini to sell up to 1.5 million units in its first weekend, though the models that run on cellular networks aren’t coming for a few weeks.

The company said demand has exceeded the supply the company set aside for initial distribution. Some pre-order customers, Apple said, have not yet received their devices but will get them later this month.

The news comes as IDC reports that Apple lost a significant amount of its market share in the third quarter as consumers waited for new Apple models. The company’s share of the market dropped from around 65 percent to just over 50 percent, with Samsung and Amazon picking up the slack.

Facebook privacy tool: Facebook announced Friday that any  new users will be given specific instructions on Facebook’s default settings, sharing permissions, policies on data access, rules about apps, games and third-party Web sites, advertisements, photo tags and the way the site finds friends and connections for new users.

The network’s changes come in part due to the efforts of the Irish Data Protection Commissioner’s Office, the company said in a Friday blog post.

In a statement to The Washington Post, Facebook’s chief privacy officer, Erin Egan, said the company is “committed to making sure people understand how to control what they share and with whom” and thanked the agency for its guidance “as we strive to highlight the many resources and tools we offer to help people control their information on Facebook.”

By  |  12:15 PM ET, 11/05/2012

 
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