Wall Street Journal

States Sue Meta Alleging Harm to Young People on Instagram, Facebook

A coalition of 41 states and Washington (DC) are filing lawsuits alleging that Meta Platforms has intentionally built its products with addictive features that harm young users of its Facebook and Instagram services. The lawsuits, in federal and state courts, say Meta misled the public about the dangers of its platforms for young people. The states also allege that Meta knowingly has marketed its products to users under the age of 13, who are barred from the platform by both Meta’s policies and federal law.

Consolidated Communications to Be Bought For $3.1 Billion, Including Debt

Consolidated Communications has agreed to be bought for $3.1 billion, including debt, in a take-private deal that will remove the fiber company from the public markets as it grapples with higher interest rates and rising costs. Searchlight Capital Partners, a private-equity firm that already owns more than 34 percent of Consolidated Communications, and British Columbia Investment Management agreed to pay $4.70 a share for the company. The company has faced various challenges as it works to build up its next-generation fiber network.

After More Than Four Years, Has 5G Lived Up to Expectations?

Fifth-generation wireless networks have spread faster and farther than some early advocates predicted, but the technology—despite hundreds of billions of dollars invested worldwide—hasn’t revolutionized whole swaths of the economy the way past mobile technologies did. In the US, about 43% of people had 5G mobile subscriptions as of June, ranking 10th worldwide. Hong Kong had the world’s highest 5G penetration rate, with 74% of its population subscribed to the mobile service.