There’s going to be a lot of buying and selling in the coming months, but here’s one deal that’s not happening: Contrary to market-moving rumors, Microsoft isn’t acquiring videogame giant Electronic Arts. Anyone else want to take a shot?
Eric Spiegelman has a Web video hit on his hands. “Old Jews Telling Jokes,” a series of short clips featuring exactly what the name suggests, is popular, viral, and cheap to make. But he still can’t cover his costs with Internet advertising. Enter the ancillary products, like a new book deal.
Is Twitter a billion-dollar company? It is now, according to its investors. People familiar with the company tell me it has raised around $50 million in a funding round that values the start-up, which has no real revenue to speak of, at about $1 billion.
Get used to headlines like this: Disney is buying up comic powerhouse Marvel for $4 billion. The cash and stock deal values Marvel at $50 a share, up almost 30 percent from its Friday close.
We’ll get more details during a conference call later this morning, but if you want to kill time until then, you can play amateur M&A guy and draw up your own list of big media companies that will be buying or selling in the next year or so.
Apple’s long-awaited entry into the Chinese phone market is finally here. Or at least it will be by the end of the year: China Unicom says it has struck a three-year deal with Apple to sell iPhones in China that will kick in during the fourth quarter.
A proposed deal to buy The Pirate Bay and turn it legit, which never made sense in the first place, now looks all but dead. The Swedish software/Internet cafe company that’s supposed to buy the file-sharing haven for $8 million now says investors that were supposed to finance the deal have disappeared. And it says this is the fault of the U.S. media, which supposedly spooked said investors. Sorry!
Facebook offered to buy TipJoy, then changed its mind. Now the micropayment start-up has closed, and a co-founder is working for…Facebook.
Give this to Steve Ballmer: After getting roundly hammered in the past few years for either missing out on deals (see: AOL/Google) or paying too much for the ones he did land (see: Facebook at $15 billion), he seems to be on a roll.
Last week, Microsoft was roundly praised for the way it structured its Yahoo deal. And today, the company seems to have struck a smart pact with Publicis, which will pay $530 million for Redmond’s Razorfish digital ad agency, which Ballmer never wanted anyway. Just as important: The French ad giant will agree to buy a certain amount of search and display inventory from Microsoft over the next five years.
Amazon’s Q2 was just what Wall Street was expecting–which in Wall Street’s perverse logic means that Wall Street will be disappointed. Amazon delivered net sales of $4.65 billion and earnings of 32 cents per share; consensus called for $4.67 billion and 32 cents. Jeff Bezos might have been able to allay investors’ worries, but he was a no-show for the conference call.
JP Morgan has good news for Microsoft: Its massive ad campaign for Bing is working just fine. The bad news for Microsoft: For most people, Google is already working just fine.
Did you want to buy or sell a media or tech company in the last six months? Chances are you didn’t: New data from banker The Jordan, Edmiston Group say the M&A market for the first half of 2009 was nearly nonexistent, at least compared to the post-MySpace Web 2.0 heyday. One exception to the drought: A booming market for mobile companies.
Just a few weeks after a very public breakup, Warner Music Group and Imeem are getting back together again. Warner, which told investors last month that it had written off the $16 million it had invested in the Web music start-up, plus another $4 million in debt, has made a new deal with the company and will get another slug of equity. The big difference–this time, Warner isn’t cutting Imeem a check.
What does it take to add a third player to a joint venture between two media conglomerates? More than four months of negotiations. Tens of millions of dollars help, too. That’s what finally got Disney to join up with GE’s NBC and News Corp.’s Fox in Hulu, the fast-growing Web video site. Here’s what that means for the three networks and the rest of the Web video business.
The Ticketmaster-Live Nation deal isn’t official yet, but it’s already garnering plenty of opponents. The real question: Who’s going to come out in favor of a deal that helps one of the country’s most disliked companies?
Tumblr is exactly the kind of start-up that’s supposed to be gasping for air in today’s dismal economy: A trendy but niche Web service with a prominent founder and exactly zero revenue. Instead, it has raised a $4.5 million funding round from Union Square Ventures and Spark Capital, which values the company at around $15 million.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider. Read more »
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