Steve Ballmer says he doesn’t expect to do much search-related M&A, which makes sense since there’s little left to buy. But he may be willing to pay for search. Ask AOL.
UGO, the dude-centric videogame site that Hearst bought for $100 million two years ago, needs a new CEO.
J Moses, who co-founded the company in 1998, left in June, as did Michael McCracken, his longtime COO. The company is currently being run by Hearst Interactive president Ken Bronfin.
Even though analysts had moved their News Corp. estimates down at the company’s urging, the media conglomerate still underperformed the consensus and is writing off $8.4 billion. Rupert Murdoch: “Our results for the quarter are a direct reflection of the grim economic climate. While we anticipated a weakening, the downturn is more severe and likely longer lasting than previously thought.” But investors are taking the results in stride, and News Corp. shares are trading up.
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 »
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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