Here are the most read storiesof the week.
Withthe Republican National Convention in full swing, the party released its 2016 platform,giving media and communications industry players a glimpse into how the GOP is thinkingabout the future. The platform stresses limited federal governmentand regulation throughout its various proposals. In line with that theme, it callsfor an independent internet that is protected from too much federal oversight whilealso sharply criticizing a decision to transition key internet domain name functionsto a global multistakeholder community.
's executives covereda lot of ground on the company's second-quarter earnings call as investors soldoff shares on disappointing subscriber growth. The addition of just1.7 million members likely drove the negative sentiment. The company had anticipated2.5 million second-quarter additions.
agreedto acquire all outstandingshares of Greater Media Inc.in a deal worth about $240 million. Stockholders of Greater Media willget about $100 million in cash and $25 million in shares of Beasley's class A commonstock at $4.61 per share. Greater Media shareholders also will receive the net cashproceeds, amounting to about $20 million, from the sale of its tower assets. Beasleywill refinance roughly $80 million in debt of Greater Media.
Eventhough DISH Network Corp.'spay TV subscriber numbers are shrinking, the company's profits are growing.On a net basis, DISH lost281,000 video subscribers during the second quarter. By comparison, in the secondquarter of 2015, the company reported a net loss of 81,000 pay TV subscribers. Still,net income was up. The company reportednet income attributable to DISH of $410 million, or 88 cents per share, up from$324 million, or 70 cents per share, during the same period in 2015.
On thesame day that DISH reported its largest quarterly subscriber losses on record, 's DIRECTV said it continuedto add subscribers in the second quarter. The company reported 342,000 U.S. DIRECTVnet adds and 38,000 global TV net adds, noting that DIRECTV has grown by nearly1 million U.S. satellite net adds since the acquisition of DIRECTV closed in July 2015.