(Reuters) – Demand Media, the owner of content websites eHow, Livestrong and Cracked, said on Monday it had acquired the e-commerce marketplace Society6 for $94 million in cash and stock as the company diversifies its business model.
Society6 marks Demand’s first real foray into e-commerce. With a community of about 300,000 members, Society6 helps artists sell their goods such as iPhone cases, T-shirts and prints directly to consumers.
(Reuters) – Facebook Inc introduced video for its popular photo sharing application Instagram in an attempt to go to head-to-head with rival Twitter.
The world’s No. 1 social network said on Thursday its more than 130 million Instagram users can now record and post 15 second videos on the platform.
(Reuters) – A stunt double for Oscar-winning actress Angelina Jolie has sued News Corp over allegations its British newspapers hacked her phone, the first lawsuit in the United States against the company since the scandal broke two years ago.
The lawsuit, filed on June 13 by professional stunt double Eunice Huthart, said reporters from News Corp’s tabloids The Sun and the defunct News of the World, hacked her mobile phone while she was working for Jolie on location in Los Angeles.
(Reuters) – Facebook Inc said on Tuesday it now has 1 million active advertisers globally who used the platform in the last 28 days, a milestone for the company that is seeking to revive its revenue growth.
A vast majority of those advertisers are small business owners who have flocked to the world’s No. 1 social network.
June 18 (Reuters) – Facebook Inc said on Tuesday it
now has 1 million active advertisers globally who used the
platform in the last 28 days, a milestone for the company that
is seeking to revive its revenue growth.
A vast majority of those advertisers are small business
owners who have flocked to the world’s No. 1 social network.
(Reuters) – International Business Machines said on Tuesday it would acquire Web hosting company SoftLayer Technologies and create a new division for clients interested in so-called cloud services, a move to better compete with larger rivals in the space.
Executives with IBM and SoftLayer declined to comment on the terms of the deal on a call with reporters.
(Reuters) – Rupert Murdoch tried to convince Wall Street on Tuesday that there is still money to be made in newspapers, reminding investors that he had defied skeptics over the past 60 years to build one of the world’s biggest media empires.
As News Corp prepares to separate its publishing business from its entertainment assets, Murdoch said that while some brands face individual challenges, as a whole the publishing portfolio is “undervalued and underdeveloped.”
(Reuters) – News Corp said on Friday it will write down the value of its Australian and U.S. publishing assets by up to $1.4 billion, as the company prepares to split its business between its newspaper and entertainment operations.
The company said the goodwill impairment charge was primarily for its Australia newspapers though it gave no more details. It also said it expected reduced cash flows in the future.
May 24 (Reuters) – News Corp set the distribution
ratios for the spinoff of its publishing business, which may
start buying back stock right away.
The board of the publishing business, which will retain the
News Corp name, authorized a $500 million stock repurchase
program, the company said on Friday.
May 23 (Reuters) – Pandora Media Inc said
first-quarter revenue grew 58 percent to $128.5 million on the
strength of mobile advertising and new subscribers to the online
streaming music service.
Mobile revenue on a non-GAAP basis nearly doubled in the
quarter to $83.9 million.