Cable360AM — News briefing for Friday, Feb. 1 »
Microsoft is attempting to buy Yahoo for $44.6 billion, Reuters reports. The Redmond, Wash.-based computer technology company announced its cash and stock offer for the Sunnyvale, Calif.-based Internet services company this morning. Yahoo shares rose 53.8% after the news broke. The New York Times reports that Microsoft’s public offer for Yahoo was unsolicited and “its premium unusually high, marking it as an aggressive bid that could turn hostile.”
A serious battle for domination of the online advertising market is expected to follow should Yahoo accept Microsoft’s bid. [Reuters | New York Times]
The year-over-year increase in consumer clicks on Google’s ads slowed in the fourth quarter of 2007, which negatively affected the company’s revenue and profit growth, the Wall Street Journal reports. Google shares fell 6.8% on the news. [Wall Street Journal]
The FCC’s individual bidding mark of $4.6 billion for the C block of the 700 MHz wireless spectrum being auctioned was reached by an unidentified company yesterday, triggering the open-access rules that Google had pressed the commission to adopt, CableFAX Daily reports. The winning bidder of that block will have to open its wireless network to third-party products.
In celebration of Black History Month, Comcast is adding programming to its on-demand lineup that highlights African-American life and culture.
Cable Positive president/CEO Steve Villano and Speed Channel production SVP Rick Miner will be the guests on "Tomorrow Will Be Televised," the Internet radio show hosted by former CableWorld contributing editor Simon Applebaum. The program runs Monday at 3 p.m. ET/noon PT on www.nowlive.com.
In broader economic news, 17,000 employees were eliminated from U.S. payrolls in January, and Exxon Mobil posted record-breaking earnings in the fourth quarter of 2007. [Reuters | Wall Street Journal]