Sky Limited is a British media and telecommunications conglomerate. Headquartered in London, it has operations in the United Kingdom, Germany, Switzerland and Spain. Sky is Europe's largest media company and pay-TV broadcaster by revenue, with 23 million subscribers and more than 31,000 employees as of 2019; the company is involved in satellite television and broadband services. Formed in 1990 by the equal merger of Sky Television and British Satellite Broadcasting, BSkyB became the UK's largest digital pay television company. In 2014, after completing the acquisition of Sky Italia and Sky Deutschland, the merged company changed its name to Sky plc. Prior to November 2018, Rupert Murdoch's 21st Century Fox owned a 39.14% controlling stake in the company. However, after a bidding war that included The Walt Disney Company, U. S. media and telecoms conglomerate Comcast acquired the entirety of Sky in 2018 for £17.28 per-share. Before the acquisition by Comcast, Sky was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index and had a market capitalisation of £18.75 billion as of 2018.
British Sky Broadcasting was formed by the merger of Sky Television and British Satellite Broadcasting on 2 November 1990. Both companies had begun to struggle financially and were suffering financial losses as they competed against each other for viewers; the Guardian characterised the merger as "effectively a takeover by News Corporation". The merger was investigated by Office of Fair Trading and was cleared a month since many of the represented views were more concerned about contractual arrangements which had nothing to do with competition; the Independent Broadcasting Authority was not consulted about the deal. On 17 November, the IBA decided to terminate BSB's contract, but not as it was deemed unfair to 120,000 viewers who had bought BSB devices. Sam Chisholm was appointed CEO in a bid to reorganise the new company, continued to make losses of £10 million per week; the defunct BSB's HQ, Marco Polo House were sold, 39% of the new company's employees were made redundant to leave just under 1000 employees, many of the new senior BSkyB executive roles were given to Sky personnel with many BSB leaving the company.
In April the nine Sky/BSB channels had been condensed into five, with EuroSport being dropped soon after the Sky Sports launch. Chisholm renegotiated the merged company's expensive deals with the Hollywood studios, slashing the minimum guaranteed payments; the defunct Marcopolo I satellite was sold in December 1993 to Sweden's NSAB, Marcopolo II went to Norway's Telenor in July 1992 after the ITC was unable to find new companies to take over the BSB licences and compete with BSkyB. News International received 50%, Pearson PLC 17.5%, Chargeurs 17.5%, Granada 12%, Reed International 2% of the new shares in the company. By September 1991, the weekly losses had been reduced to £1.5M a week, Rupert Murdoch said "there were strong financial marketing and political reason for making the compromise merger instead of letting BSB die. Many of the lessons had been learnt with more than half the running cost of the combined company". Further cuts in losses were a direct result of 313,000 new customers joining during the first half of 1991.
By March 1992, BSkyB posted its first operating profits, of £100,000 per week, with £3.8 million weekly from subscriptions and £1 million from advertising, but continued to be burdened with £1.28 billion of debt. James Capel forecast BSkyB would still be indebted in 2000. In the autumn of 1991, talks were held for the broadcast rights for Premier League for a five-year period, from the 1992 season. ITV were the current rights holders for the Football League, fought hard to gain the new rights. ITV had increased its offer from £18m to £34m per year to obtain the new rights. BSkyB joined forces with the BBC to make a counter bid; the BBC was given the highlights of most of the matches, while BSkyB paying £304m for the Premier League rights, would give them a monopoly of all live matches, up to 60 per year from the 1992–93 season. Murdoch has described sport as a "battering ram" for pay-television, providing a strong customer base. A few weeks after the deal, ITV went to the High court to get an injunction as it believed their details were leaked before the decision was taken.
ITV asked the Office of Fair Trading to investigate since it believed Rupert Murdoch's media empire via the newspapers had influence the deal. A few days neither action took effect, ITV believed BSkyB was telephoned and informed of its £262m bid, Premier League advised BSkyB to increase its counter bid. BSkyB retained the rights paying £670m for the 1997–2001 deal, but was challenged by On Digital for the rights from 2001–2004, thus it was forced to pay £1.1 billion which gave it 66 live games a year. Following a lengthy legal battle with the European Commission, which deemed the exclusivity of the rights to be against the interests of competition and the consumer, BSkyB's monopoly came to an end from the 2007–08 season. In May 2006, the Irish broadcaster Setanta Sports was awarded two of the six Premiership packages that the English FA offered to broadcasters. Sky picked up the remaining four for £1.3bn. In October 1994, BSkyB announc
Delight Mobile was a mobile virtual network operator service based in the United Kingdom. It was launched in July 2011 as a sister network to Vectone Mobile by Mundio Mobile, it is powered by the EE network. Topping up is done on the website, or with use of a voucher from a store with a PayPoint terminal. PAYG credit expires. Credit can be transferred from one Delight Mobile sim to another using the web login of the donor account. From 1 December 2017 it has merged with Vectone mobile. Official website
Science and technology in the United Kingdom
Science and technology in the United Kingdom has a long history, producing many important figures and developments in the field. Major theorists from the United Kingdom of Great Britain and Northern Ireland include Isaac Newton whose laws of motion and illumination of gravity have been seen as a keystone of modern science and Charles Darwin whose theory of evolution by natural selection was fundamental to the development of modern biology. Major scientific discoveries include hydrogen by Henry Cavendish, penicillin by Alexander Fleming, the structure of DNA, by Francis Crick and others. Major engineering projects and applications pursued by people from the United Kingdom include the steam locomotive developed by Richard Trevithick and Andrew Vivian, the jet engine by Frank Whittle and the World Wide Web by Tim Berners-Lee; the United Kingdom continues to play a major role in the development of science and technology and major technological sectors include the aerospace and pharmaceutical industries.
England and Scotland were leading centres of the Scientific Revolution from the 17th century and the United Kingdom led the Industrial Revolution from the 18th century, has continued to produce scientists and engineers credited with important advances. Some of the major theories and applications advanced by people from the United Kingdom are given below; the development of empiricism and its role in scientific method, by Francis Bacon. The laws of motion and illumination of gravity, by physicist, astronomer, natural philosopher and theologian, Sir Isaac Newton; the discovery of hydrogen, by Henry Cavendish. The steam locomotive, by Richard Trevithick and Andrew Vivian. An early electric motor, by Michael Faraday, who made electricity viable for use in technology; the theory of aerodynamics, by Sir George Cayley. The first public steam railway, by George Stephenson; the first commercial electrical telegraph, co-invented by Sir William Fothergill Cooke and Charles Wheatstone. First tunnel under a navigable river, first all iron ship and first railway to run express services, contributed to by Isambard Kingdom Brunel.
Evolution by natural selection, by Charles Darwin. The invention of the incandescent light bulb, by Joseph Swan; the unification of electromagnetism, by James Clerk Maxwell. The first practical telephone, patented by Alexander Graham Bell; the discovery of penicillin, by biologist and pharmacologist, Sir Alexander Fleming. The world's first working television system, colour television, by John Logie Baird; the first meaningful synthesis of quantum mechanics with special relativity by Paul Dirac in the equation named after him, his subsequent prediction of antimatter. The invention of the jet engine, by Frank Whittle; the invention of the hovercraft, by Christopher Cockerell. The colossus computer, by Alan Turing, an early digital computer; the structure of DNA, by Francis Crick and others. The theoretical breakthrough of the Higgs mechanism to explain electroweak symmetry breaking and why some particles have mass, by Peter Higgs. Theories in cosmology, quantum gravity and black holes, by Stephen Hawking.
The invention of the World Wide Web, by Tim Berners-Lee. The United Kingdom plays a leading part in the aerospace industry, with companies including Rolls-Royce playing a leading role in the aero-engine market. Two British-based companies, GlaxoSmithKline and AstraZeneca, ranked in the top five pharmaceutical companies in the world by sales in 2009 and UK companies have discovered and developed more leading medicines than any other country apart from the US; the UK remains a leading centre of automotive design and production of engines, has around 2,600 component manufacturers. Investment by venture capital firms in UK technology companies was $9.7 billion from 2010–2015. Scientific research and development remains important in British universities, with many establishing science parks to facilitate production and co-operation with industry. Between 2004 and 2012, the United Kingdom produced 6% of the world's scientific research papers and had an 8% share of scientific citations, the third- and second-highest in the world.
Scientific journals produced in the UK include the British Medical Journal and The Lancet. Britain was one of the largest recipients of research funding from the European Union. From 2007–2013, the UK received €8.8 billion out of a total of €107 billion expenditure on research and innovation in EU Member States and third countries. At the time, this represented the fourth largest share in the EU; the European Research Council granted 79 projects funding in the UK in 2017, more than any other EU country. Government Office for Science Internet in the United Kingdom List of exports of the United Kingdom Manufacturing in the United Kingdom Telecommunications in the United Kingdom
A ticker symbol or stock symbol is an abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. A stock symbol may consist of numbers or a combination of both. "Ticker symbol" refers to the symbols. Stock symbols are unique identifiers assigned to each security traded on a particular market. A stock symbol can consist of letters, numbers, or a combination of both, is a way to uniquely identify that stock; the symbols were kept as short as possible to reduce the number of characters that had to be printed on the ticker tape, to make it easy to recognize by traders and investors. The allocation of symbols and formatting convention is specific to each stock exchange. In the US, for example, stock tickers are between 1 and 4 letters and represent the company name where possible. For example, US-based computer company stock Apple Inc. traded on the NASDAQ exchange has the symbol AAPL, while the motor company Ford's stock, traded on the New York Stock Exchange has the single-letter ticker F.
In Europe, most exchanges use three-letter codes, for example Dutch consumer goods company Unilever traded on the Amsterdam Euronext exchange has the symbol UNA. While in Asia, numbers are used as stock tickers to avoid issues for international investors when using non-Latin scripts. For example, the bank HSBC's stock traded on the Hong Kong Stock Exchange has the ticker symbol 0005. Symbols sometimes change to reflect mergers. Prior to the 1999 merger with Mobil Oil, Exxon used a phonetic spelling of the company "XON" as its ticker symbol; the symbol of the firm after the merger was "XOM". Symbols are sometimes reused. In the US the single-letter symbols are sought after as vanity symbols. For example, since Mar 2008 Visa Inc. has used the symbol V, used by Vivendi which had delisted and given up the symbol. To qualify a stock, both the ticker and the exchange or country of listing needs to be known. On many systems both must be specified to uniquely identify the security; this is done by appending the location or exchange code to the ticker.
Although stock tickers identify a security, they are exchange dependent limited to stocks and can change. These limitations have led to the development of other codes in financial markets to identify securities for settlement purposes; the most prevalent of these is the International Securities Identifying Number. An ISIN uniquely identifies a security and its structure is defined in ISO 6166. Securities for which ISINs are issued include bonds, commercial paper and warrants; the ISIN code is a 12-character alpha-numerical code that does not contain information characterizing financial instruments, but serves for uniform identification of a security at trading and settlement. The ISIN identifies not the exchange on which it trades. For instance, Daimler AG stock trades on twenty-two different stock exchanges worldwide, is priced in five different currencies. ISIN cannot specify a particular trade in this case, another identifier the three- or four-letter exchange code will have to be specified in addition to the ISIN.
While a stock ticker identifies a security that can be traded, stock market indices are sometimes assigned a symbol though they can not be traded. Symbols for indices are distinguished by adding a symbol in front of the name, such as a caret or a dot. For example, Reuters lists the Nasdaq Composite index under the symbol. IXIC. In Canada the Toronto Stock Exchange TSX and the TSXV use the following special codes after the ticker symbol: In the United Kingdom, prior to 1996, stock codes were known as EPICs, named after the London Stock Exchange's Exchange Price Information Computer. Following the introduction of the Sequence trading platform in 1996, EPICs were renamed Tradable Instrument Display Mnemonics, but they are still referred to as EPICs. Stocks can be identified using their SEDOL number or their ISIN. In the United States, modern letter-only ticker symbols were developed by Standard & Poor's to bring a national standard to investing. A single company could have many different ticker symbols as they varied between the dozens of individual stock markets.
The term ticker refers to the noise made by the ticker tape machines once used by stock exchanges. The S&P system was standardized by the securities industry and modified as years passed. Stock symbols for preferred stock have not been standardized; some companies use a well-known product as their ticker symbol. Belgian brewer InBev, the brewer of Budweiser beer, uses "BUD" as its three-letter ticker for American Depository Receipts, symbolizing its premier product in the United States, its rival, Molson Coors Brewing Company, uses a beer-related symbol, "TAP". Southwest Airlines pays tribute to its headquarters at Love Field in Dallas through its "LUV" symbol. Cedar Fair Entertainment Company, which operates large amusement parks in the United States, uses "FUN" as its symbol. Harley-Davidson uses "HOG" for its Harley Owners Group. Yamana Gold uses "AUY", because on the periodic table of elements. Sotheby's uses the symbol "BID". While most symbols come from the company's name, sometimes it happens the other way around.
Tricon Global, owner of KFC, Pi
EE is a British mobile network operator, internet service provider and a division of BT Group. It was established in 2010 as a 50:50 joint venture between Deutsche Telekom and France Télécom through the merger of their respective T-Mobile and Orange businesses in the UK, it is the largest mobile network operator in the UK, with 29.6 million customers and the largest operator of 4G services in Europe. It was acquired by BT in January 2016 and subsequently became a second consumer division, operating alongside BT Consumer following BT's new organisational structure that took effect in April 2016, it retained its brand and retail stores while its business operations became part of newly formed BT Business and Public Sector division, its MVNO operations became part of newly formed BT Wholesale and Ventures division. On 28 July 2017, BT announced organisational changes to "simplify its operating model, strengthen accountabilities and accelerate its transformation" and involves bringing together its BT Consumer and EE divisions into a new unified BT Consumer division that will operate across three brands – BT, EE and Plusnet.
It will take effect from 1 April 2018. EE has its headquarters in Hatfield in the UK and has main offices in BT Centre in London, Darlington, Greenock, Merthyr Tydfil, North Tyneside and Leeds; as of 23 November 2016, EE's 4G & 2G networks' combined coverage reaches more than 99% of the UK population, with double speed 4G reaching 80% while EE's 3G network reaches 98% of the population. Deutsche Telekom and France Télécom announced plans to merge their respective UK ventures T-Mobile UK and Orange UK on 8 September 2009; the initial planning suggested a joint revenue of around £7.7 billion for 2008 with savings via synergies expected to total around "over £445 million annually from 2014 onwards". The two companies announced an expected investment of "£600 to £800 million in integration costs"; the initial press release outlined a clear vision for the two brands citing that "the T-Mobile UK and Orange UK brands will be maintained separately for 18 months". The merger was cleared by the European Commission on 1 March 2010.
The joint venture was announced as completed on 1 April 2010, the name Everything Everywhere was announced on 11 May 2010. On the same day the company confirmed that "roaming across both networks due in that year, at no additional cost to the customer" and further emphasised the separation of the brands at that present moment in time, saying that each brand would maintain "its own shops, marketing campaigns and service centres"; the companies' network sharing plans were released to customers on 11 October 2010. The "switch-on" was rolled out utilising an opt-in page on each brand's website. However, the rollout did not include automatic network roaming mid-call or the two brands' 3G services. On 18 July 2011, Tom Alexander announced unexpectedly that he would step down as CEO. Alexander had joined Orange in 2008 and had led the company since its formation on 1 July 2010, it was announced that he would leave his post on 31 August 2011 and therefore as from 1 September 2011, he would be replaced by Olaf Swantee, who had held the position of Executive VP of European Activities and Sourcing for France Télécom in addition to being a member of EE's board.
Alexander said that he would remain with the company throughout the remainder of 2011 and continue to advise Swantee in his new role. Swantee is seen as having done an exceptional job in leading the group through the challenges of rebranding and the launch of a new technology, was named the mobile industry's person of the year in 2013 as a result. On 2 November 2011 Everything Everywhere announced plans to cut a further 550 back office staff, with its sites in Bristol, Darlington and Paddington affected. In April 2012, the T-Mobile network in Northern Ireland was switched off, meaning that all customers there roam onto Orange; however most T-Mobile sites were turned back on as EE has a mast sharing agreement with 3. Everything Everywhere announced on 22 August 2012 that it would introduce a third brand as part of a future 4G launch to sit alongside Orange and T-Mobile, that Everything Everywhere would continue as the company's legal name. Further speculation commenced on 7 September 2012 when the company announced details of a press conference on the morning of 11 September 2012, the earliest date set by Ofcom to launch 4G services.
It was noted that this date was only 24 hours earlier than the expected launch of the latest generation of iPhone, thereby arousing suspicion that the new iPhone would support 4G and that Everything Everywhere would launch its service on this anticipated handset. Other commentators suggested that the HTC One XL would be the first handset to launch utilising Everything Everywhere's 4G network; the handsets that the company launched on EE are the iPhone 5, HTC One XL, Samsung Galaxy S III, Samsung Galaxy Note II, Huawei Ascend P1, Nokia Lumia 920, Nokia Lumia 820. The company announced that they would be using two 4G mobile broadband devices manufactured by Huawei - the E589 Mobile Wi-Fi device and E392 mobile broadband dongle; the company announced on 11 September 2012 that the EE brand would be used to identify its network on all of the company's devices, alongside its 4G service and the company's fibre optic broadband roll-out. The brand was described by EE as The Super Fast Brand, it was confirmed that all ex-Orange and ex-T-Mobile shops would be re-branded
Virgin Media Limited is a British company which provides telephone and internet services in the United Kingdom. Its headquarters are in Hampshire. Since 2013, Virgin Media has been a subsidiary of Liberty Global plc, an international television and telecommunications company; the company was listed on the NASDAQ Stock Market and London Stock Exchange. Virgin Media is not a sister company of Virgin Mobile USA, owned by Sprint Corporation; the company was founded in March 2006 by the merger of Telewest, which created NTL: Telewest. In July 2006, the company purchased Virgin Mobile UK, creating the first "quadruple-play" media company in the United Kingdom, offering television, mobile phone and fixed-line telephone services. In November 2006, the company signed a deal with Sir Richard Branson to licence the Virgin brand for the combined business. All of the company's consumer services were rebranded under the Virgin Media name in February 2007. Virgin Media owns and operates its own fibre-optic cable network in the United Kingdom, although their optical fibre network does not reach the customer premises, rather they connect to a street cabinet.
As of 31 December 2012, it had a total of 4.8 million cable customers, of whom around 3.79 million were supplied with its television services, around 4.2 million with broadband internet services and around 4.1 million with fixed-line telephony services. At the same date, it had around 3 million mobile telephony customers. Virgin Media competes in broadband with Sky, BT Group and TalkTalk, in mobile with EE, O2, Vodafone and Three; the company's origins lie in both Telewest and NTL, which merged in March 2006. Telewest began in 1984 in Croydon under the name "Croydon Cable", was acquired by United Cable of Denver in 1988; the company expanded during the 1990s and adopted the Telewest name in 1992 following the merger of its then-parent TCI and US West. It expanded into cable television access in 1999 by purchasing the remaining 50% stake in Cable London, one of the first cable TV companies in the UK, from NTL, adding 400,000 homes in north London. In April 2000 Telewest merged with Flextech, in November extended its cable network with the acquisition of Eurobell, taking the total number of homes past 4.9 million.
NTL was established by Barclay Knapp and George Blumenthal in 1993 as "International CableTel", taking advantage of the deregulation of the UK cable market. Cabletel acquired local cable franchises covering Guildford, Northern Ireland and parts of Central Scotland and South Wales. In 1996 CableTel acquired National Transcommunications Limited, the privatised UK Independent Broadcasting Authority transmission network. In 1998 CableTel adopted "NTL" as its new name. NTL purchased the ISP Virgin.net in 2004, having operated it as a joint venture with Virgin Group since it launched in November 1996. It sold ADSL broadband services through BT landlines to those living outside areas served by NTL's cable network and offered subscription-based and subscription-free dial-up Internet access. Prior to acquiring Virgin.net, NTL offered. Telewest and NTL began discussions regarding a merger in late 2003. Thanks to their geographically distinct areas, NTL and Telewest had co-operated as in redirecting potential customers living outside their respective areas.
On 3 October 2005, NTL announced a US$16 billion purchase of Telewest, to form one of the largest media companies in the UK. The merger agreement as structured would have required NTL to negotiate with BBC Worldwide due to a change-of-ownership clause written into the agreement for UKTV, a joint venture with Telewest's Flextech content division. To prevent this, Telewest instead acquired NTL. In December 2005 NTL:Telewest and mobile virtual network operator Virgin Mobile UK announced that talks had taken place regarding a merger. Virgin Mobile's independent directors rejected the original bid of £817 million, taking the view that NTL's bid "undervalued the business". Sir Richard Branson expressed confidence that a restructured deal could go ahead, in January 2006 NTL increased its offer to £961 million. On 4 April 2006, NTL announced a £962.4 million recommended offer for Virgin Mobile. According to reports, Branson accepted a mix of shares and cash, making him a 10.7% shareholder of the combined company.
NTL and Telewest formally completed their merger on 3 March 2006, making the merged company the UK's largest cable provider, with more than 90% of the market. The combined company renamed itself NTL Incorporated, with ex-NTL shareholders controlling 75% of the stock and ex-Telewest shareholders 25%. Nine of the 11 directors of the new board came with two from Telewest. NTL:Telewest's takeover of Virgin Mobile completed on 4 July 2006, creating the UK's first'quadruple play' media company, bringing together television, mobile phone and fixed-line phone services; the deal included a 30-year exclusive branding agreement that saw NTL adopt the "Virgin" name after it completed its merger with Telewest. NTL:Telewest announced on 8 November 2006 it would change its name to "Virgin Media Inc". On 9 November 2006, NTL announced it had approached the commercial television broadcaster ITV plc about a proposed merger, after a similar announcement by ITV. BSkyB blocked the merger on 17 November 2006 by controversially buying a 17.9% stake in ITV plc, a move that attracted anger from NTL shareholder Richard Branson, an investigation from media and telecoms regulator Ofcom.
On 6 December 2006 NTL announced that it had complained to the Office of Fair Trading about BSkyB's
Fidelity Investments Inc. referred to as Fidelity, earlier as Fidelity Management & Research or FMR, is a multinational financial services corporation based in Boston, Massachusetts. It is one of the largest asset managers with $2.46 trillion in assets under management as of March 2018. Fidelity Investments operates a brokerage firm, manages a large family of mutual funds, provides fund distribution and investment advice, retirement services, wealth management, securities execution and clearance, life insurance; the company was founded as Fidelity Management & Research by Edward C. Johnson II in 1946. In 1969, the company formed Fidelity International Limited to serve non-U. S. Markets and subsequently spun it off in 1980 into an independent entity owned by its employees. In 1982, FMR company started offering 401 products. In 1984, it offered computerized stock trading. In 1997, Robert Pozen was named CEO. In 2010, Fidelity Ventures, its venture capital arm, was shut down, many of the employees created Volition Capital.
In 2011, Fidelity changed the name of its international division from Fidelity International to Fidelity Worldwide Investment and a new logo was introduced. In 2012, the company moved its Boston headquarters to 245 Summer Street. In 2018, Fidelity launched a separate entity dedicated to institutional cryptoasset custody and cryptocurrency trading. FMR has three fund divisions: High-Income and Fixed-Income; the company's largest equity mutual fund is Fidelity Contrafund, which has $107.4 billion in assets, making it the largest non-indexed fund in the US. The current manager of Contrafund is William Danoff. Fidelity Magellan is another large equity fund, with $15.5 billion in assets. Its current manager is Jeffrey Feingold, who manages the Fidelity Trend Fund, it was managed by Ned Johnson from May 2, 1963 to Dec. 31, 1971, Peter Lynch from May 31, 1977 to May 31, 1990 and Harry W. Lange from 2005 to 2012. Fidelity Investments operates a major brokerage firm and has investor centers in over 140 locations throughout the US.
Through its subsidiary, National Financial Services LLC, Fidelity Investments provides services to its correspondent broker-dealers, institutional investment firms and trusts, family offices, registered investment advisors including brokerage clearing and back office support and a suite of software products for financial services firms. National Financial was the custodian for over $443 billion in assets, in 4.3 million accounts as of September 30, 2010. Fidelity Personal and Institutional Services is the largest provider of 401 retirement plan services with $1.4 trillion under administration and $32 billion in total defined contribution assets, as of 2015. Other services provided include pension administration, health & welfare administration, stock plan administration as well as payroll and other record-keeping services; the company's Devonshire Investors arm is a division that gives the owners of the company the ability to make other investments outside its funds. Assets include an employment agency for jobs at Fidelity.
The company has been a major investor of real estate, owning the Seaport Center and 2.5 million square feet of office space in Boston. It owned Community Newspaper Company, the largest chain of newspapers in suburban Boston, sold to the Boston Herald in 2000 and now owned by GateHouse Media. Fidelity has strategically invested in the telecom/managed services/data center industries, including COLT Telecom Group in Europe, MetroRED in South America, KVH Co. Ltd. in Japan. Since 2008, all MetroRED ownership has been divested, it was heavily invested in commercial lumber and building materials. In 2013, they sold Boston Coach, a limousine and black-car service, founded in 1985 by Ned Johnson after waiting too long for a taxi, to Harrison Global, it formed ProBuild Holdings in 2006 and sold it to Builders FirstSource in 2015. Fidelity manages a donor-advised fund, Fidelity Charitable, in 1991, becoming the first commercial DAF provider; as of 2017, Fidelity Charitable is the largest charity by donations from the public, surpassing the United Way.
Tax donations to a DAF can be registered in the year of the donation, when the beneficiary may be being chosen. In a 2015 survey by Fidelity Charitable, 90% of donors who responded stated this benefit as the main reason for starting donations using a DAF. Donors cite that this allows them to give more to charity. Investments in a DAF register interest. Fidelity Charitable produces a report "Women and Giving" that examines differences in giving attitudes and priorities across generations and gender. In 2016, Fidelity Charitable raised nearly $7 million in bitcoin; as of June 2017, the organization's annual report said that nearly $2 billion had been committed by all funding methods, with $9 million in bitcoin. A private venture capital firm, F-Prime Capital Partners, managed on behalf of owners and other key leaders of Fidelity Investments, has been described as directly competing with Fidelity Investments public funds. A 2016 Reuters investigation identified multiple cases where F-Prime Capital Partners was able to make investments at a fraction of the price of Fidelity Investments.
Because of SEC regulations, investments by F-Prime Capital Partners preclude Fidelity from making the same early investments. The investigation describes that this competition forces Fidelity to delay investing until and at much higher prices than F-Prime Capital Partners, resulting in lower returns for Fidelity fund shareholders. Corporate governance experts have stated