THE NEWS WRAP: Twitter gets musical with proposed deal to buy SoundCloud

Twitter is considering a deal to buy music and audio-sharing service SoundCloud.

 

If the proposed deal goes ahead, it will be Twitter’s largest acquisition ever.

 

At the beginning of the year, SoundCloud announced a $60 million funding round that valued the company at $700 million.

 

YouTube to acquire Twitch


Google-owned YouTube has agreed a deal to buy popular videogame–streaming service Twitch for more than $1 billion.

 

The acquisition would be the most significant in the history of YouTube.

 

Twitch lets users upload and watch free, live gameplay videos streamed from Microsoft Xbox One and Sony PlayStation 4 consoles.

 

It claims it has more than 45 million monthly users.

 

Chinese military unit charged with cyber-espionage

 

Five members of the Chinese military have been accused by the US Justice Department of conducting economic cyber-espionage against American companies.

 

It’s the first time the United States has brought such charges against members of a foreign country’s military.

 

The Justice Department says the hacking occurred for no other reason than to give a competitive advantage to Chinese companies.

 

Overnight


The Dow Jones Industrial Average is up 20.55 to 16,511.86. The Australian dollar is currently trading at US93 cents.

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