Archives

Amid Controversy Over Playboy Interview, Google Begins Accepting IPO Bids

Authored by Mark Hefflinger on August 13, 2004 - 2:57am.
Washington -- Despite concerns that a Playboy magazine interview given by its founders may have violated SEC rules, Internet search giant Google on Friday morning began accepting bids for its highly anticipated auction-style initial public offering (IPO). The company said that it expects to officially price the $3.3 billion IPO next week. Questions remain, however, about whether a Playboy interview with company founders Larry Page and Sergey Brin violates the SEC's rules regarding so-called quiet periods. The article appears in the magazine's September issue. Google has filed to sell 25.7 million shares for approximately $108-$135 each in a modified Dutch auction.
tags: IPO | Google | Playboy Interview | Amid |

Report: EU Judge Seeks More Information from Microsoft

Authored by Mark Hefflinger on August 13, 2004 - 2:56am.
Brussels -- The Financial Times reported that Bo Vesterdorf, president of the European Court of First Instance, said he needs more information from Microsoft respecting the U.S. software giant's claim that EU sanctions would cause it irreparable damage. Citing unnamed sources, the Financial Times said Microsoft now has a little more than a week to provide a list of all the patents, copyrights, trademarks and trade secrets the company believes to be involved. The EU ruled last March that Microsoft abused its dominant position in operating systems. It demanded the company remove Windows MediaPlayer software from its operating system and share more information with European rivals. Microsoft has appealed the decision, and Judge Vesterdorf is currently deliberating whether to suspend sanctions for the duration of that process. Oral arguments in Microsoft's request for stay begin at the end of next month. If Vesterdorf decides in favor of Microsoft, the sanctions will not be imposed until the conclusion of the appeal process, which analysts say could take as many as five years.
tags: Reports | Microsoft | EU Judge |

Online Auction Giant eBay Buys 25% Stake in Craigslist

Authored by Mark Hefflinger on August 13, 2004 - 2:54am.
San Francisco -- Giving it the added strength of a major backer, craigslist, a provider of classified ad sites in 45 cities, said on Friday that it has sold a 25% stake in the company to online auction giant eBay for an undisclosed price. As much as the financial support, the company said that it will be able to share in eBay's expertise, resources and creativity. "[eBay CEO] Meg [Whitman] has helped us preserve the craigslist mission, and I really appreciate it," said Craig Newmark, craigslist's founder and chairman. "We're thrilled to have found a shareholder of eBay's stature," said Jim Buckmaster, the president and CEO of craigslist. Financial terms of the deal were not disclosed. Craigslist sites include localized classified listings for jobs, housing, goods and services, personals, events, and community, as well as a variety of discussion forums.
tags: Internet | eBay | Auction Giant | Craigslist |

Avid to Acquire Digital Audio Firm M-Audio for $80 Million

Authored by Mark Hefflinger on August 13, 2004 - 2:54am.
Tewksbury, Mass. -- Avid Technology, a major provider of video production technology, has agreed to pay $80 million in cash and 2 million shares of common stock to acquire Irwindale, Calif.-based M-Audio, a provider of digital audio and MIDI technology for electronic musicians and audio professionals. The deal also includes earn-out provisions, based on M-Audio's future financial performance. Founded in 1988, M-Audio has about 200 employees in the U.S. and Europe who develop products for the professional and consumer audio markets. "With this acquisition, we're bolstering our investment in the home studio market segment, the fastest growing portion of our audio business, where we achieved roughly 40% year-over-year growth in Q2 of 2004," said David Krall, CEO of Avid.
tags: Avid | M-Audio | Digital Audio |

Warner Bros. Acquires "Matrix Online" Game Developer Monolith

Authored by Mark Hefflinger on August 13, 2004 - 2:52am.
Los Angeles -- Warner Bros. Interactive Entertainment announced that it has acquired Monolith Productions, the video game developer currently at work on "The Matrix Online," based on the Warner film trilogy. Financial terms of the transaction, which is expected to close in October, were not disclosed. Warner had already purchased a 20% stake in Kirkland, Wash.-based Monolith last year, in a deal that included the option to purchase the company outright. Monolith has also developed "TRON 2.0" and "Aliens Vs. Predator 2," and is currently at work on "F.E.A.R." for Vivendi Universal Games.
tags: Games | Internet | Warner Bros | Matrix Online | Monolith |

EU Names Replacement for Competition Commissioner Mario Monti

Authored by Mark Hefflinger on August 13, 2004 - 2:50am.
Brussels -- The European Union said on Friday that Neelie Kroes, the former Minister of Transportation for the Netherlands, will replace Mario Monti as its new competition commissioner. Monti is known for imposing a number of sanctions on U.S. software giant Microsoft, including a record fine of more than $600 million. Kroes, 63, has not yet said what her priorities will be as commissioner and spoke about the position only in general. "What is expected of the European antitrust commissioner is that, in an open economy, clear rules will enable the member states to help create honest competition," she said. "Honest competition, eventually, leads to better products and services for consumers." Kroes is a member of the Dutch Liberal party and has held board positions at Volvo, Thales, Lucent Technologies, New Skies Satellites and mmO2. In the Netherlands, Kroes is best known for overseeing the privatization of the state's post and telecommunications company.
tags: EU | Replacement | Commissioner | Mario Monti |

RealNetworks, NBC Olympics Offer Free Rhapsody Trial, Bjork Exclusive

Authored by Mark Hefflinger on August 13, 2004 - 2:49am.
Seattle -- RealNetworks announced on Friday that it has partnered with NBC Olympics to promote its Rhapsody digital music subscription service. During the games, U.S. users will be offered a free trial of Rhapsody, both through NBCOlympics.com and Real's website. Each U.S. athlete was also given a complimentary subscription to Rhapsody, and the promotion will include athlete-created playlists. The company also announced that it will offer "Oceania," a song written by Icelandic pop star Bjork for the Opening Ceremony, exclusively through Rhapsody until her new album, Medulla, is released on Aug. 31.
tags: RealNetworks | NBC Olympics | Rhapsody Trial | Bjork Exclusive |