A couple of weeks ago we were confused when we learned that after a
huge redesign and content focus shift of Myspace (little m, big space), that the company, owned by News Corp., was laying off several hundred of its employees. This week we uncovered the answer: News Corp. is done with Myspace. Their COO Chase Carey announced that they are "actively engaged" in talks regarding "strategic alternatives". I read between the lines.
The interesting thing about this is that he mentioned it in an earning call and not during your usual press conference or through a press release. When one of the market analysts asked for an estimated loss projection for Myspace, Carey simply reiterated the same sentence. Basically, they are shopping around for offers.
With a new content focus and structure in place, we believe now is the right time for News Corp. to consider strategic options. We have seen some encouraging traffic metrics in the last several weeks. However, we recognize that the plan to allow MySpace to reach its full potential may be best under a new ownership structure.
For more on the breakup, follow the break.
Nvidia has been trying to make a real name for themselves in the mobile space and they have done a pretty good job of it. Their Tegra 2 processors are the standard in dual-core mobile technology, powering everything from
LG's Optimus 2X to Sony's S1 PlayStation tablet. That, however, is not good enough for them.
At Mobile World Congress this week, Nvidia revealed the first quad-core mobile processor, appropriately named
Kal-El. Now, we knew they had this processor in development but no one thought it would be ready this soon. It's not just ready, but it was on display, running a live device. Who needs a press release, right? When you have specs like these, paper just won't do the job:
First mobile Quad-core CPU 12-core GPU with 3D stereo support Extreme HD - 2560 x 1600
For more info on the new processor, including benchmarks and demo video, hit the break.
The 2011 Mobile World Congress was this week and news came in from any and every mobile developer and manufacturer who was boasting the newest, latest and greatest handset and features. Of course, we expected to see Nokia and Microsoft also make their presence known during the event, especially after critics were skeptical if
Nokia may have gotten the bad end of the deal when they partnered up with Microsoft's WinPho 7 handsets. In an effort to dispel any notion of that sort, Nokia CEO Stephen Elop was very quick to note that the deal will be beneficial for both parties involved. Elop announced payouts and benefits that Nokia will receive for deciding to stick by the Window-side.
Obviously we know that Nokia will have to pay an undisclosed royalty fee every time they choose to use the operating system but Elop said Nokia will get "very substantial reductions" when it comes to what their spending on their everyday operations, including layoffs, since they no longer need to employ a workforce to develop an in-house OS.
Want to hear more thoughts from the adamant Elop? Click the break.
I'm not quite sure where AOL is getting the money to purchase all the companies that they are frightened by but they are sure doing a good job at creating a huge cluster of big brands underneath their umbrella. With TechCrunch, Engadget, Joystiq, Moviefone, Mapquest and Switched already under their belt, AOL has now purchased Huffington Post for $315 million, $300 million of it in cash. Co-founder Arianna Huffington will become president and editor-in-chief. Since its inception in 2005, the HuffPo has been ever-growing in popularity and now reaches an average of 25 million visitors and over 4 million comments each month. AOL and Huffington Post's board of directors have agreed on the transaction as have the shareholders and the finalization of the deal should happen no later than early Q2.
From AOL and Huffington Post we have a press release:
Acquisition Will Solidify AOL's Strategy of Creating a Premier Content Network With Local, National and International Reach
Arianna Huffington To Lead Newly Formed The Huffington Post Media Group Which Will Integrate All Huffington Post and AOL Content, Including News, Tech, Women, Local, Multicultural, Entertainment, Video, Community, and More
The New Combined Media Group Will Reach 117 Million Americans and 270 Million Globally
Group Uniquely Positioned To Redefine the Future of Brand Advertising and Marketing For an Engaged and Influential Audience
Tim Armstrong, Chairman and CEO of AOL spoke highly of the acquisition and of Arianna Huffington.
The acquisition of The Huffington Post will create a next-generation American media company with global reach that combines content, community, and social experiences for consumers. Together, our companies will embrace the digital future and become a digital destination that delivers unmatched experiences for both consumers and advertisers. ... Arianna is a singularly passionate and dedicated champion of innovative journalistic engagement, and a master of the art of using new media to illuminate, entertain and enhance the national conversation. Arianna is a remarkable person and she will continue to create remarkable outcomes for the combined company.
For more on this move, follow the break.
Apple's new iTunes based subscription service barely made it off the tree before Google stepped in to try and steal their sunshine with their new digital subscription service called One Pass. The service will consist of the usual suspects, e-books, newspapers, and magazines but there are some distinct differences between One Pass and Apple's service that Google CEO Eric Schmidt made light of in Barcelona. A significant decrease in the cut Google takes from publishers and a less strict policy about relinquishing user info to them could help Google stick it to Apple in a different way than at the grocery store.
Satisfy your thirst for details by hitting the break.
the FCC considered taking over the Internet, the government has been taking more of a role in managing the Internet. We have seen several instances of the federal government seizing control of websites, primarily over copyright issues. This week we had an interesting seizure - 84,000 domains in regard to child pornography. The only problem? They were seized on accident.
In an attempt to remove a single site, mooo.com, the Department of Justice's "Operation Save Our Children" wrongfully shutdown 84,000 domains all hosted through the same DNS, FreeDNS. Last Friday, if you had visited any one of the personal or small business sites hosted through FreeDNS.afraid.org, they were greeted with this image:
For more information on the sites shut down and their response, hit the break.