October 6, 2016 Last Updated 7:45 am

Report: Google, Disney not interested in bidding for Twitter

Morning Brief: Postmedia Network completes recapitalization transaction, adds the head of American Media, David Pecker, to company’s board of directors

The sale of Twitter to some other tech entity has seem inevitable for a while, but to who? Google has always seemed a logical buyer, but now Recode (see below) is saying the search giant is not interested as interested as earlier reports may have indicated.

It is not unusual for a company to express interest in an acquisition then back away. When approached by a M&A agent many executives say they want to see the black book if only out of curiosity, in other cases, it is the one way they can see what a rival is doing. In my days in M&A I would send out five to ten black books for every one that ended up being a real prospect. You try and limit the number of looky-loos, of course, but it is hard to eliminate them completely. Sometimes, of course, the company you really think that should buy something doesn’t express any interest at all, that is far more frustrating.

Recode: Sources: Google will not make a Twitter bid and Apple is also an unlikely suitor

According to sources close to the situation, Google does not currently plan to make a bid for Twitter. While the search giant has been among the buyers considered most likely to be a contender for the social communications company, those familiar with the deal said that the company was not moving forward with an effort to buy it at this time.

In addition, several sources Recode has spoken to this week also said that Apple was unlikely to be one of the possible suitors, with one saying Twitter should have “low expectations” of getting an offer from the tech giant. UPDATE: Disney, which had also considered a bid, is not going to make an offer, according to sources familiar with that company…

Postmedia Network: Postmedia Completes Recapitalization Transaction

Postmedia Network Canada Corp. is pleased to announce that the Company’s previously announced recapitalization transaction, described in the Company’s management information circular dated August 5, 2016, was completed effective today upon implementation of a court-approved plan of arrangement under the Canada Business Corporations Act…

…Pursuant to the nominating rights under the support agreement dated July 7, 2016, among PNCC, PNI and certain holders of the Notes, two new members have been added to the boards of PNCC and PNI – David J. Pecker and Daniel Rotstein. Also joining Postmedia’s boards of directors is Mary E. Junck.

BusinessInsider: Samsung’s exploding smartphone nightmare is getting even worse

Samsung has been issuing replacement devices to customers who bought potentially faulty Galaxy Note 7 phones, which — supposedly — have fixed the faulty battery problem.

But a Note 7 recently started smoking uncontrollably on a flight before take-off, forcing the cabin crew to evacuate the plane — and the family that owned it said it was a replacement device, according to a report from Reuters.

Samsung says it needs more information before it can comment further, telling Business Insider: “Until we are able to retrieve the device, we cannot confirm that this incident involves the new Note7. We are working with the authorities and Southwest now to recover the device and confirm the cause. Once we have examined the device, we will have more information to share.”

The New York Times: Yahoo Said to Have Aided U.S. Email Surveillance by Adapting Spam Filter

A system intended to scan emails for child pornography and spam helped Yahoo satisfy a secret court order requiring it to search for messages containing a computer “signature” tied to the communications of a state-sponsored terrorist organization, several people familiar with the matter said on Wednesday.

Two government officials who spoke on the condition of anonymity said the Justice Department obtained an individualized order from a judge of the Foreign Intelligence Surveillance Court last year. Yahoo was barred from disclosing the matter…

…News of the order has opened a new chapter in a public debate over the trade-offs between security needs and privacy rights that has cast a spotlight on the sometimes cooperative, sometimes antagonistic relationship between Silicon Valley companies and the United States government.

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