Roundup: Zune prunes, tech gets part of the stimulus, Sprint cuts a lot of jobs and more
Here’s the latest action:
Zune prunes — Microsoft’s Zune portable media player saw its revenue decrease by over $100 million, or 54 percent, in the fourth quarter of 2008. Microsoft blames price cuts on the 30 gig model (you know, the one that had the massive failure) as well as a shrinking MP3 player market. Funny, iPod sales still went up during the same time period. mocoNews has more.
Yes. We (The tech industry). Can. – Looks like… Continue Reading
Will Condé Nast close Portfolio? Magazines stay troubled
The oncoming advertising recession looks likely to knock one business media source out early. A source has told Cityfile New York that Condé Nast, one of the nation’s biggest magazine publishers, may soon fold Portfolio, its still youthful business glossy.
More problematic than anything is Portfolio’s monthly format. During a financial crisis, readers want information that’s fresh that day — if possible, fresh that hour or even minute. Magazines are lagging badly, with banks collapsing and… Continue Reading
Wired acquires news ranking site, Reddit
Wired Digital, the SF company that owns Wired magazine and Wired News, has acquired Reddit.com, a news site that lets its users select and rank web content
The purchase price is unknown, suggesting it wasn’t for much, but the Boston start-up was founded only last year, and was built on a mere $100,000 in funding. It is a competitor to San Francisco’s Digg, though is the lesser known.
Wired’s parent company, Condé Nast, has used Reddit technology… Continue Reading