Apple investor busted on $1.8M insider tip: The Securities and Exchange Commission charged a Swiss man for allegedly illegally scoring a $1.8 million profit on a tip a company was being bought by Apple.
Helmut Anscheringer allegedly bought stock and call options in AuthenTec after learning from a “longtime friend” the company was being bought by Apple but before the news was disclosed to the public, the SEC says. The company provides fingerprint sensors and other technology used to allow mobile devices to identify their users without entering a password. (CNBC)
Sony expands PlayStation Vue cloud TV to S.F., L.A. and adds single-channel subscriptions: Sony wants to kill cable. After a parade of fan-favorite games, remakes, and revivals, Sony’s Andrew House announced a continued rollout plan for PlayStation’s cloud-based television service, PlayStation Vue. PlayStation 4 and PlayStation 3 owners in San Francisco and Los Angeles can now sign up for the service, which plans to go nationwide at an announced future date. Vue currently offers 85 channels with three pricing tiers. (Venture Beat)
Alibaba bets on online subscription video: Alibaba is making a big bet on online video, with the rollout of a content service in China aimed at enticing people to pay a monthly subscription in a market where most programming is accessed for free.
But if the Chinese ecommerce group can make the model work, analysts and competitors say it could transform a sector that is haemorrhaging cash amid a bidding war among companies for top content. (Financial Times)