Jennifer's Feed
Jan 22, 2014

Dow Jones CEO’s abrupt exit throws strategy into doubt

NEW YORK (Reuters) – News Corp said Lex Fenwick was leaving as chief executive of Dow Jones, less than two years after taking the helm, an abrupt departure that calls into question the future of its news wires and other products aimed at financial institutions.

Rupert Murdoch’s News Corp, which owns Dow Jones, did not explain the departure but said it was reviewing the one-size-fits-all strategy Fenwick had put in place for its news wires and other products. The bundled product offering that resulted, known as DJX, alienated some of the banks, hedge funds and retail brokers that were its main customers because of its rigid pricing structure.

Jan 15, 2014

AOL surrenders control of Patch in joint venture

NEW YORK, Jan 15 (Reuters) – AOL Inc is handing
majority ownership of Patch, a money-losing network of local
news websites, to New York investment firm and turnaround
specialist Hale Global in a joint venture announced by the
companies on Wednesday.

AOL will transfer Patch to a new limited liability company
run by Hale Global. AOL will retain a minority interest.

Jan 15, 2014

AOL surrenders control of troubled local websites Patch

NEW YORK, Jan 15 (Reuters) – AOL Inc is handing
majority ownership of Patch, a money-hemorrhaging network of
local news websites, to New York investment firm and turnaround
specialist Hale Global, the companies announced on Wednesday.

In a joint venture, AOL will transfer Patch to a new limited
liability company which will be run by Hale Global will. AOL
will retain a minority interest.

Jan 8, 2014

Former AOL executive launches Snapchat-like app for professionals

By Jennifer Saba

(Reuters) – Former AOL executive Jon Brod launched on Wednesday an app aimed at professionals who can send private messages that disappear once they are read.

The new company Confide takes a page from the highly popular Snapchat, the mobile app embraced by teens that allows users to exchange fleeting photos and messages.

Jan 8, 2014

Chinese tycoon admits New York Times bid faces obstacles

NEW YORK (Reuters) – Chinese recycling tycoon Chen Guangbiao dialed back his ambitious plans to buy The New York Times Co just over a week after making his intentions public.

“The level of difficulty is great,” he said through a translator on Tuesday.

Dec 23, 2013

Insight: AOL banks on HuffPost to turn profitable next year

NEW YORK (Reuters) – It’s the holiday season and Arianna Huffington, the influential woman behind the popular news website that bears her name, is busy buying sweaters – some 700 of them – as gifts to her employees.

From brands like J.Crew and White + Warren, the sweaters are placed at the desks of The Huffington Post staffers who can swap or trade them before posing for an annual group photo.

Dec 23, 2013

AOL banks on HuffPost to turn profitable next year

NEW YORK, Dec 23 (Reuters) – It’s the holiday season and
Arianna Huffington, the influential woman behind the popular
news website that bears her name, is busy buying sweaters – some
700 of them – as gifts to her employees.

From brands like J.Crew and White + Warren, the sweaters are
placed at the desks of The Huffington Post staffers who can swap
or trade them before posing for an annual group photo.

Dec 20, 2013

News Corp acquires social media tool Storyful

By Jennifer Saba

(Reuters) – News Corp on Friday made its first acquisition as a stand-alone company with the $25 million purchase of social news tool Storyful.

Founded in 2008 and based in Dublin, Ireland, Storyful verifies and manages the rights holders of news and videos on social media platforms such as Twitter in real time.

Dec 12, 2013

Instagram unveils private photo-sharing, messaging

NEW YORK/SAN FRANCISCO (Reuters) – Photo-sharing service Instagram unveiled a new feature Thursday that allows users to send images and messages privately, as the Facebook-owned company sought to bolster its appeal among younger consumers who are increasingly using mobile messaging applications.

The new Instagram Direct feature allows users to send a photo or video to a single person or up to 15 people, and to have real-time text conversations.

Dec 11, 2013

Spotify rolls out free music service to mobile devices

NEW YORK (Reuters) – Online music-streaming service Spotify on Wednesday launched a free music service for smart phones and tablets as it tries to hook a fast-growing group of users keen to stream tunes on their mobile devices.

Spotify offers free music on desktop computers with advertising but customers previously had to pay for on-demand connection on their mobile devices.