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Gigi Sohn testifies during a Senate Commerce, Science and Transportation Committee confirmation hearing, examining her nomination to be appointed Commissioner of the Federal Communications Commission in Washington, D.C., February 9, 2022.

Pete Marovich | Reuters

Gigi Sohn, who was chosen by President Joe Biden to serve as telecommunications regulator to the Federal Communications Commission, said on Tuesday that she’s withdrawing her nomination.

Sohn was first nominated by Biden in October 2021, but her confirmation effort has remained at a standstill due to vocal opposition from Republicans and some dissent from fellow Democrats. After multiple hearings in the Senate Commerce Committee, it was still unclear if Sohn would have the votes for her nomination to pass the full Senate.

The FCC is stuck with only four commissioners, leaving an open seat and making it virtually impossible for Biden to push his internet agenda without bipartisan agreement. In particular, Sohn’s withdrawal is a blow to the administration’s effort to renew net neutrality rules, which keep broadband internet providers from treating online content unequally.

During a 16-month battle with cable and media industry lobbyists, Sohn said she’s been subject to “unrelenting, dishonest and cruel attacks” that have taken “an enormous toll” on her family.

“It is a sad day for our country and our democracy when dominant industries, with assistance from unlimited dark money, get to choose their regulators,” Sohn said in a statement. “And with the help of their friends in the Senate, the powerful cable and media companies have done just that.”

Biden appeared to give Sohn a vote of confidence earlier this year when he renominated her for the position, after her earlier selection had lapsed with the change in Congress.

Republicans opposed Sohn’s confirmation, in part due to past tweets that were critical of Fox News. But some Democrats also withheld their support, partly because of opposition from a law enforcement group.

Sohn previously worked for former FCC Chair Tom Wheeler during the Obama administration, when the agency approved net neutrality rules that sought to prevent internet service providers from offering fast lanes for certain websites or throttling service for others. The rules were heavily opposed by ISPs at the time. Ajit Pai, the chair under former President Donald Trump, successfully repealed the rules.

White House press secretary Karine Jean-Pierre said the Biden administration does not have updates to share about a new candidate.

“We appreciate Gigi Sohn’s candidacy for this important role,” Jean-Pierre said. “She would have brought tremendous intellect and experience, which is why the president nominated her in the first place. We also appreciate her dedication to public service, her talent and her years of work as one of the nation’s leading public advocates on behalf of American consumers and competition.”

Sen. Ted Cruz, R-Texas, applauded Sohn’s withdrawal, calling it a “major victory” and recognition that “we need a fair and impartial candidate.”

“Now, it’s time for the Biden administration to put forth a nominee who can be confirmed by the full Senate and is committed to serving as an even-handed and truly independent regulator,” Cruz, the top Republican on the Senate Commerce Committee, said in a statement.

On the other side of the aisle, Sen. Maria Cantwell, D-Wash., expressed her disappointment at the decision and voiced her support for Sohn.

“I commend her for the integrity and fortitude she displayed in the face of a coordinated, hate-fueled campaign to malign and distort her character and record,” said Cantwell, chair of the Commerce Committee, in a statement. “I thank Ms. Sohn for her willingness to serve and her continued efforts to bridge the digital divide in America.”

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FCC Commissioner Brendan Carr on upcoming TikTok testimony

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Chinese tech giant Tencent posts 13% revenue jump as growth at key gaming unit surges

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Chinese tech giant Tencent posts 13% revenue jump as growth at key gaming unit surges

Chinese tech company Tencent is a gaming giant and the parent company of WeChat, the ubiquitous social messaging app in China.

Cheng Xin | Getty Images News | Getty Images

Tencent on Wednesday reported an annual rise in its top and bottom line in the first quarter fuelled by accelerated growth in its key gaming business.

While revenue beat expectations, its net profit fell short.

Here’s how Tencent did in the first quarter of 2025 versus LSEG estimates:

  • Revenue: 180.02 billion Chinese yuan ($25 billion), versus 174.63 billion yuan expected
  • Net profit: 47.8 billion yuan, versus 52.2 billion yuan expected

Revenue rose 13% year-on-year, while net profit was up 14%.

This breaking news story is being updated.

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Sony shares rise about 2% in volatile trading following share buyback announcement

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Sony shares rise about 2% in volatile trading following share buyback announcement

A file photo of Hiroki Totoki, Sony Group Corporation executive, delivering a keynote address at CES 2025 in Las Vegas, on January 6, 2025. 

Artur Widak | Nurphoto | Getty Images

Sony Group shares rose about 2% Wednesday in volatile trading after the Japanese conglomerate announced a 250 billion yen ($1.7 billion) share buyback and operating income beat estimates.   

Operating income for the last three months of the financial year came in at 203.6 billion yen, beating mean analyst estimates of 192.2 billion yen, though it was down 11% from the same period last year. 

In the earnings report, the Japanese-based electronics, entertainment and finance company announced a stock buyback of shares worth 250 billion yen. 

Sony also provided details on a partial spinoff of its financial unit. The company plans to distribute slightly more than 80% of the shares of common stock of the spinoff to shareholders of Sony Group through dividends. 

The financial unit will list its financial operation this year and will be classified as a discontinued operation in Sony’s accounting from the current quarter, the company added. 

However, Sony’s outlook for the current financial year ending in March was lackluster.

The company forecasted its operating profit to rise a slight 0.3% to 1.28 trillion yen, after flagging a 100 billion yen hit from U.S. President Donald Trump’s trade war.

Yet, Sony clarified that the estimated tariff impact did not reflect the trade deal made between the U.S. and China on May 12 and that the actual impact could vary significantly. 

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Samsung Electronics to acquire heating and cooling solutions provider FläktGroup for 1.5 billion euros

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Samsung Electronics to acquire heating and cooling solutions provider FläktGroup for 1.5 billion euros

A Samsung Group flag flutters in front of the company’s Seocho building in Seoul. 

Sopa Images | Lightrocket | Getty Images

Samsung Electronics on Wednesday announced that it would acquire all shares of German-based FläktGroup, a leading heating and cooling solutions provider, for 1.5 billion euros ($1.68 billion) from European investment firm Triton. 

Samsung said the acquisition would help it expand in the heating, ventilation and air conditioning business as the market experiences rapid growth. 

“Our commitment is to continue investing in and developing the high-growth HVAC business as a key future growth engine,” said TM Roh, Acting Head of the Device eXperience (DX) Division at Samsung Electronics.  

The acquisition of FläktGroup stands to bolster Samsung’s position in the HVAC market against rivals such as LG Electronics. 

FläktGroup supplies heating, HVAC solutions to a wide range of buildings and facilities, notably data centers which require a high degree of stable cooling. Samsung said it anticipates sustained growth in data center demand due to the proliferation of generative AI, robotics, autonomous driving and other technologies.

FläktGroup has more 60 major customers, including leading pharmaceutical companies, biotech and food and beverage firms, and gigafactories, according to Samsung’s statement.

Samsung said in March that its HVAC solutions had achieved double-digit annual revenue growth over the past five years, and that the company aimed to boost revenue by more than 30% in 2025.

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