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When I first heard that David Beckham was coming to play in Major League Soccer, I knew the truth. Beckham would be great for the financial success of the league for at least one year, but that soccer wouldn't be any better off. But with Beckham constantly sidelined, I actually think that MLS might actually come out in worse shape than when before Beckham started.
NBC Universal (parent company is GE which also owns CNBC) and News Corp's joint online video venture doesn't have a name (though in some circles it's referred to as New Site), and it's ostensibly launching in September but there's no specific launch date. But somehow it's worth $1 billion dollars, at least based on a 10% stake reportedly being sold to private equity firm Providence Equity Partners for $100 million.
News Corp.'s Rupert Murdoch has said he might make the Wall Street Journal's Web site free, a shift that could compel Britain's Pearson to do the same with the online version of its Financial Times.
Richard Branson's Virgin Media, said it has delayed its sale until the environment improves enough for all interested parties to bid. The British billionaire Branson is the largest shareholder of this cable TV company, which received one bid from the Carlyle group for some $23 billion, and some nibbles from other private equity players.
Wedding content publisher The Knot, which runs TheKnot.com, said Wednesday its second-quarter profit increased 23% due to stronger sales in wedding supplies and higher advertising revenue.
News Corp earnings come out after the bell, followed by a conference call at 4:30 eastern. Analysts focus on the call (there's always a Q&A period after the presentation) will be much less on the numbers, and much more on CEO Rupert Murdoch's guidance. The hot topic of the day is Dow Jones. Analysts may ask Murdoch to justify the 67% premium he's paying for the company in an industry facing such slow growth.
A day after former Brocade CEO Gregory Reyes was found guilty on all 10 securities fraud charges brought against him, dozens of Silicon Valley executives--and hundreds of executives nationwide--faced with the same allegations, will have to re-think their defense strategies. The sweeping verdict in the first-of-its-kind criminal case for the U.S. Justice Department sent a seismic ripple through this region yesterday.
Priceline.com shares soared Wednesday after the online U.S. travel agency turned in a stronger-than-expected earnings report and raised its forecast.
Online U.S. travel agency Priceline.com said on Tuesday its quarterly profit more than doubled on a surge in travel bookings, beating expectations and sending its shares up 10% in after-hours trading.
"Fake Jane," the wildly popular alter-evil-ego of Real Jane, has been the talk of the blogosphere. Haven't you heard? Ok, take my word for it, then. Fake Jane "tells it like it is." She has opined on a variety of important issues of the day, like the distastrous impact HD cameras will have on her career. Fake Jane has railed against the hiring of young women in TV news--any woman younger than she is. Which is a lot of women.
First things first: I'm disappointed. Fake Steve Jobs has been outed and I'm bummed about it. Some mysteries ought to just stay that way. Over the weekend, the New York Times' tech reporter Brad Stone outed Fake Steve as Forbes' Senior Editor Daniel Lyons. So now, as I read the blog, instead of hearing Steve Jobs' voice tell me the words, I hear someone else. Noise. A distraction. Something NOT Steve, but just another writer trying to be Steve. And that's a bummer.
AmieStreet, a digital music site that prices songs of new artists according to their popularity, said on Monday that Amazon.com is leading a first round of investment in the start-up.
Here we go again--when it comes to all the speculation swirling around whether Google will jump into the cell phone market, not with new software, but with a handset of its own. To wit, we've already reported the myriad possibilities and puzzle pieces pointing to a possible cell-phone market entry by the search giant
Call it the anti-mySpace/Fox deal, and Disney's Bob Iger might be crazy like a fox. Disney announced a strong quarter, but the bigger news is the company's acquisition of Club Penguin, an online social networking site targeted at 6 - 12 year olds.
In an interview with CNBC, Richard Parsons, chief executive of Time Warner, offered his views about the firm’s quarterly results, the likelihood of acquisitions, and his annoyance with the market.
Responding to widespread rumors on the Internet, Apple officials now confirm that the company will host a media event on Tuesday, Aug. 7 at the company's Cupertino, Calif. headquarters.
IAC/InterActive Corp reported its second quarter earnings today and net income was up 78%, but Wall Street wasn't impressed -- the jump was thanks solely to divestiture and lower acquisition costs. Looking only at continuing operations (excluding stock compensation and those divestiture costs), the quarter's earnings were 31 cents, a penny less than the year-ago quarter, and two cents less than the analyst consensus. Revenues grew six percent, less than analysts expected.
The news appeared dire: a web report of serious problems connected to Apple's iPhone and the stock gets whacked. No, that's not a story from today. That news harkened back to June 3 when the website engadget.com reported erroneously of an internal Apple memo purporting to show that iPhone's launch would be delayed six months.
The experts call the 700Mhz wireless spectrum the last piece of undeveloped beachfront real estate in cyberspace, and Google wants it. "I'll tell you, even at Google you can't make a $4.6 billion commitment without being serious," says Chris Sacca, Google's vice president who's spearheading the company's aggressive lobbying effort of the FCC to make sure its voice is heard in the upcoming auction of wireless spectrum.
Alibaba.com, China's largest e-commerce company, confirmed on Monday that it is making preparations for an initial public offering, as it seeks to raise capital to expand its international presence.