Wed 6 Feb 2008
In Today’s News
Posted by Jason D. under Uncategorized
- Time Warner is set to split up the floundering AOL unit. Newly minted CEO Jeff Bewkes laid out his plan for the future by making plans to ’seperate its struggling AOL unit’s Internet access business from its Web portal and online advertising components‘. He also hinted that the company may reduce its stake in Time Warner Cable. With all these changes it could make AOL attractive to a potential bidder even though all eyes continue to be on the future of Yahoo!
- From WGA Negotiating Committee Chairman John F. Bowman on Monday, “While we have made important progress since the companies re-engaged us in serious talks, negotiations continue. Regardless of what you may hear or read, there are many significant points that have yet to be worked out.” A proposed deal is rumored to be awaiting approval and a meeting of WGA members has been called for this Saturday.
- Disney perks up. Revenue climbed 9% in large part due to huge hits such as High School Musical 2, Hannah Montana/Miley Cyrus, and the Disney Parks. The 3-D Hannah/Montana film has been setting box-office records and has extended its limited release run at least a full week. Recently renewed CEO Robert Iger said it was synergy at its best “its impressive performance highlights our mission perfectly.” With the CD selling 8 million copies, the tour selling out instantly, the video games selling 1.7 million units and the film pushing out U2 from 3-D screens Disney is back on top.
- More news from Redmond. Microsoft is teaming up with MTV Networks Intl. and Sony BMG to run music videos and some program clips on its online service MSN in nine European countries. This deal coincides with similar deals in the U.S. and proves Microsoft is trying to compete with Google owned YouTube for web traffic abroad. The gap is fairly wide at the moment with YouTube outpacing MSN video in the UK by 9 million users in December but video ad revenue is expected to grow dramatically in the upcoming years and Microsoft is not wanting to be left behind in this field the way they have been in other aspects of the web.