Bad “News”
The Associated Press is reporting that CBS to purchase CNet for about $1.75 billion
NEW YORK – CBS Corp. agreed to buy online technology news and entertainment company CNet Networks Inc. for about $1.75 billion, expanding its access to the burgeoning Internet advertising market.
…CBS said it will combine CNet’s sites with its own online properties, including CBS.com, CBSSports.com and CBSNews.com.
A group of investors led by New York hedge fund Jana Partners LLC has been agitating for a shake-up at the company after its shares fell sharply in the past year. Jana Partners has led a proxy fight to get a slate of directors elected to the CNet board.
More media consolidation and a corporation that can’t do standard journalism is now going to control a major technology media outlet. Jana Partners doesn’t know anything except profit. Here’s a hint Jana, everything is in the tank because we have entered a recession. That’s the way markets work.
May 15, 2008 Comments Off on Bad “News”
Asian Disaster Updates
Better news for China as there’s a break in the weather. From the BBC – China scales up rescue operation
China is mobilising 30,000 extra troops and 90 helicopters to help with the rescue operation after Monday’s devastating earthquake.
…The Chinese military plans to conduct large-scale airdrops of food, clothing and blankets over the worst-hit areas, including the districts of Beichuan and Wenchuan.
The helicopters are needed because many of the roads in the mountainous area near the epicentre have been badly damaged by the earthquake or have been covered by landslides.
May 15, 2008 Comments Off on Asian Disaster Updates
