The AWT News Update is on hiatus while my compadre, Steve, takes a weekend road trip with his lovely wife. In its place, I’ll offer a text-only (no podcast) summary of breaking stories with a tip o’ my hat to my former website, Apple Daily Report.
David Bradley, the chairman and owner of Atlantic Media, has announced that he’s selling a majority stake in The Atlantic to Emerson Collective, an organization led by philanthropist and investor Laurene Powell Jobs (Steve Jobs’ widow). Bradley will retain a minority stake in The Atlantic and will continue as chairman and operating partner for at least three to five years. In a letter to his staff, Bradley wrote that Emerson Collective will most likely assume full ownership of The Atlantic within five years.
Korea Economic Daily claims (as noted byThe Investor) that Apple is paying LG about $2.7 billion investment in LG’s production lines in return for output being exclusively devoted to iPhone screens.
Nokia’s second-quarter results were improved by a recent 1.7 billion euro (about $2 billion) cash payment from Apple, helping to settle the two companies’ patent fight.
A missing climber searching for a cave featured on the BBC has been called “a very lucky boy” after he was found using the “Find My Friends” iPhone app. Searching for famous hillside cave the Priest’s Hole – featured on BBC’s Secret Britain – in the Lake District , the young man got into difficulties on Tuesday morning.
