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Timothy B. Lee

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Posted at 03:13 PM ET, 05/04/2012

The Circuit: Yahoo CEO, Facebook, Verizon

Yahoo CEO: Yahoo confirmed Friday that new Chief Executive Scott Thompson does not have a computer science degree and that the company’s board is looking into the matter.

Thompson’s biography and Yahoo filings with the Securities and Exchange Commission both list that Thompson has degrees in accounting and computer science. But an activist Yahoo investor called the computer degree into question in a scathing letter to the company’s board Thursday. After first calling the discrepancy a mistake, the board has started an investigation.

Facebook: Facebook announced its range for pricing its IPO on Thursday, giving a range of $28 to $35 per share, according to paperwork filed with the Securities and Exchange Commission. The company is offering about 337.4 million shares of its stock.

The company said in its Thursday filing that it estimates it will net around $5.6 billion from shares it offers, assuming a price of $31.50 per share, while selling stockholders could make around $5 billion. The offering would put valuation of the company at $77 billion to $96 billion, the Wall Street Journal reported.

Verizon text-to-911: Verizon announced that it will be the first U.S. wireless carrier to offer nationwide text-to-911 services, which will let users send SMS messages to 911 call centers starting in 2013.

Tammy Sun, Federal Communications Commission spokeswoman, said in a statement that Chairman Julius Genachowski called Verizon CEO Dan Meade to commend the company for answering his challenge to deploy next-generation 911 centers.

LightSquared and Philip Falcone: Investor Philip Falcone has seen $23 billion in losses and client withdrawals, Bloomberg reported, after the FCC said it was reconsidering a provisional waiver granted to LightSquared.

In a profile of Falcone, the news organization said that the U.S. government acted unfairly and that he is considering going to court to challenge the decision.

“What’s happening is quite frankly outrageous, it’s un-American, it’s unfair,” he told Bloomberg. “You mandate me to build out a network as a condition to buying the company, so I go and buy the company. And now you’re not letting me build out the network?”

NAB drops white spaces suit: The National Association of Broadcasters on Thursday asked the U.S. Court of Appeals in D.C. to dismiss its suit challenging the FCC’s white space order.

Many have looked to white spaces as a promising platform for additional WiFi innovation, but the NAB filed suit because it worried about interference with broadcast signals.

By  |  03:13 PM ET, 05/04/2012

 
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