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.
May 20 (Reuters) – Yahoo Inc said it is buying
blogging service Tumblr for $1.1 billion cash, giving the
struggling Internet pioneer a much-needed platform in social
media to reach a younger generation of users.
The deal, announced on Monday, is a bold bet by Yahoo Chief
Executive Marissa Mayer to revitalize the company by co-opting a
Web property with strong visitor traffic but little revenue.
May 17 (Reuters) – The Financial Times’ website and Twitter
feeds were hacked on Friday, renewing questions about whether
the popular social media service has done enough to tighten
security as cyber-attacks on the news media intensify.
The Syrian Electronic Army, an online group that supports
Syrian President Bashar al-Assad, was behind the incident which
followed a phishing attack on the company’s email accounts, FT
reported on its website.
NEW YORK, May 17 (Reuters) – Bloomberg LP appointed former
IBM Chairman and CEO Samuel Palmisano as an independent adviser
on security and data issues, as the company seeks to address
customers’ concerns about possible breaches in the
confidentiality of their usage data.
The news and financial data company said on Friday that
Palmisano will report to its board of directors and he will
immediately undertake a review of current policies for client
data and end-user information.
May 11 (Reuters) – Bloomberg LP customers, including the
U.S. Federal Reserve and the U.S. Treasury, were examining on
Saturday whether there could have been leaks of confidential
information, even as the media company restricted its reporters’
access to client data and created a position to oversee
compliance in a bid to assuage privacy concerns.
The financial data and news company, whose computer
terminals are widely used on Wall Street, had allowed
journalists to see some information about terminal usage,
including when customers had last logged in, and how often they
used messaging or looked up data on broad categories, such as
equities or bonds.