Google sells AOL stake after writing down more than $700 million
Google sold its 5 percent stake in AOL to Time Warner Inc. for $283 million, down from the $1 billion it paid in 2005. This puts AOL’s overall value at about $5.7 billion, less than 30 percent of the company’s $20 billion valuation based on what… Continue Reading
Roundup: AOL spinoff, secret news meeting, and more
Here’s the latest action:
AOL spin-off approved by Time Warner — After AOL’s merger with the media conglomerate in 2000, it’s been, well, a long decade. AllThingsD has more.
Leading newspapers hold secret meeting to discuss charge for content — The Atlantic reports. No word on whether there was… Continue Reading
Cable TV online may sound great, but a la carte pricing is still the key
I recently ditched all but the most basic television package from my cable provider — and I would have ditched it all, but it was something like $5 for basic cable on top of my internet service. I simply don’t watch cable television anymore. But… Continue Reading
India’s star in media and entertainment rises amid worldwide recession
MUMBAI, India –- As the global economy limps along, media and entertainment gliterrati jetted to Mumbai this week (Feb. 17-19) to celebrate India’s entrepreneurial spirit, the new era of multimedia and the worldwide growth of Indian industries.
It begs the question: Is the country be recession-proof?… Continue Reading
Google digs up its AOL warranty, demands a refund for damaged goods
During its earnings call this morning, Time Warner noted that Google has exercised its option to dump its stake in AOL. Time Warner now has two options: pay Google for its 5 percent stake or make AOL its own entity and take it public. The… Continue Reading
Virtual world maker Gaia cuts staff by 13 percent
Gaia Interactive, a San Jose, Calif. creator of virtual world software, has laid off 13 percent of its employees (16 full-time and 20 contractors) due to unfavorable market conditions. The cuts follow an $11 million third round of funding the company announced in July.
It’s rumored… Continue Reading
Kosmix’s new approach to search gets $20M
Kosmix, a search startup that automatically builds pages about any topic, has raised a $20 million in new funding led by Time Warner. That brings the Mountain View, Calif. startup’s total backing to $55 million — pretty impressive, especially for an ad-driven company. It’s also… Continue Reading
Two-timing: Yahoo talking to the same potential partners that Microsoft is talking to
Yesterday came word that Microsoft was talking to Time Warner and News Corp. about potential deals to help it acquire Yahoo. So naturally today comes word that Yahoo is talking to those very same companies about doing similar deals — just without Microsoft, according to… Continue Reading
Roundup: Obama inspires tech ire, AOL possibly for sale, thin-film solar to surge, and more
Obama takes flack for telecom reversal — Barack Obama is about as smart as politicians get when it comes to technology, and even plans to name a chief technologist for the country if elected. But he has finally managed to offend the devoted, by changing his… Continue Reading
Microsoft seeks partners for Yahoo scrapyard endeavor
If I told you that Microsoft was talking about buying Yahoo and asked you to pick a month that this discussion was taking place, would you pick: a) January 2007 b) January 2008 c) May 2008 or d) Right now?
Wrong. The correct answer is e) All of the above.
Yes, shockingly… Continue Reading
Visible World, a targeted cable advertiser, raises $25M
Targeted advertising, based on geographic location, age, gender and other factors, is a pretty common concept by now. Visible World wants to bring it to cable television, with an added twist — editing of specific commercial spots to appeal more to individuals.
Say a large company… Continue Reading
Roundup: Google Sites opens to everyone, Time Warner splits and more
Here’s the latest action:
Google Sites now open to everyone – Now anyone can use Google Sites to create a group website. The service first launched a few months ago and let users integrate and collaborate on Google’s other offerings (written documents, spreadsheets and so on)…. Continue Reading
Roundup: Former AOL execs face fraud charges, MetroFi throws in the towel, fingerprinters point fingers, and more
AOL execs add oddly, allege examiners — Eight AOL executives are facing fraud charges at the conclusion of a six-year long investigation by the Securities and Exchange Commission into alleged revenue overstatement of $1 billion during the company’s merger with Time Warner. Four of the… Continue Reading
It’s official: Sprint teams up with Clearwire for wireless partnership
Sprint and Clearwire have confirmed yesterday’s reports that they’re teaming up to create a new wireless broadband company. The new company, which will also be called Clearwire, should be the first to create a national mobile network using Intel’s WiMax technology, delivering broadband Internet at… Continue Reading
Roundup: WB returns as a website, XBox 360 prices drop in Asia and more
Here’s the latest action:
The WB rises from the dead with a new website — The television network, famous for launching teen-aimed shows like Buffy the Vampire Slayer and Dawson’s Creek, merged with UPN to become the CW network in 2006. But now the WB is returning… Continue Reading
Roundup: Motorola splits up, cable giants back WiMax venture, and more
Here’s the latest action (updated):
Struggling cell phone manufacturer Motorola announced it would split itself into two different companies. Under pressure from activist investor Carl Icahn, the company will divide itself into a cell phone company and a company with broadband and mobility equipment operations. The… Continue Reading
Time Warner invests in teen virtual world Gaia Online
Update
Gaia Online, the virtual world for teens, siad media conglomerate Time Warner has invested an undisclosed amount in the company. Update: The amount was for a couple million, I’ve heard, and it was part of the previous round the company raised.
San Jose, Calif.’s Gaia says it has… Continue Reading
Roundup: IAC to split, new Time Warner CEO, and more
Here’s the latest action:
1) IAC splitting into five companies
2) Sea change ahead for Time Warner
3) Google’s merger plans may be foiled by the EU
4) Synthasite launches website creation
5) Whrrl opens local opinion site
6) Internet users like their free stuff
7) Andersen exacts revenge on PR flacks… Continue Reading
Trion raises $30M for bold bet for new online games
Trion World Networks, a company promising to deliver new kinds of interactive online games, has raised a whopping $30 million in capital without having launched a single product.
The huge financing is a bold bet that an unproven company, formed early last year, can nevertheless… Continue Reading
Double Fusion raises $26M for in-game advertising
San Francisco’s Double Fusion, which offers a way to for advertisers to place advertisers in games, told VentureBeat this morning that it has raised $26 million in a financing round led by Norwest Venture Partners.
Existing investors Accel Partners and Jerusalem Venture Partners joined in… Continue Reading