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Report: News Corp Eyeing Purchase of Video Game Company

Authored by Mark Hefflinger on January 14, 2005 - 9:03am.
London -- Australian media tycoon Rupert Murdoch's News Corporation is actively eyeing acquisitions in the video game sector, a move confirmed this week by the company's chief operating officer Peter Chernin at an investment conference, The Financial Times reported. "We see [video games] as a big business and would like to get into it," Chernin said, adding that News Corp has been "kicking the tires of pretty much all video games companies." Targets include Santa Monica, Calif.-based Activision, which is actively seeking a buyer. "We are struggling with the gap between companies like Electronic Arts, which come with a high price tag, and the next tier of companies. These may be too focused on one or two product lines." The news comes in the same week that News Corp agreed to buy full control of Fox Entertainment Group -- which includes the Fox Network, Fox News Channel, 20th Century Fox film studio and its stake in DirecTV -- in a stock swap valued at around $6 billion.
tags: Reports | Purchase | News Corp | Eyeing | Video Game Company |

Google Settles With SEC Over Pre-IPO Sale of Options, Playboy Interview

Authored by Mark Hefflinger on January 14, 2005 - 8:59am.
Mountain View, Calif. -- Search engine giant Google on Thursday settled charges from the U.S. Securities and Exchange Commission (SEC) that it broke the law by failing to report having offered $82 million in employee stock options, and in granting an interview with Playboy magazine during the "quiet period" before the company's IPO last year. The SEC concluded its probe into the matter without imposing fines or penalties against Google, which signed a cease-and-desist order but did not have to admit or deny any wrongdoing. In addition to the unreported granting of stock options, Google founders Larry Page and Sergey Brin spoke with Playboy magazine in a possible violation of SEC rules restricting the public comments of companies with an impending initial public offering, but the SEC did not penalize Google for the interview.
tags: Google | SEC | Pre-IPO Sale | Playboy Interview |

Hollywood Video Seeks Antitrust Approval for Movie Gallery Merger

Authored by Mark Hefflinger on January 14, 2005 - 8:55am.
Portland, Ore. -- Hollywood Entertainment, the nation's second-largest video rental chain behind Blockbuster, announced that it has sought official antitrust approval of a buyout offer from Movie Gallery, the third-largest video rental chain in the U.S. Earlier this week, Alabama-based Movie Gallery offered $850 million for Hollywood, which operates 2,000 Hollywood Video and 700 Game Crazy stores. Oregon-based Hollywood also announced that it has received a "second request" from the Federal Trade Commission (FTC) in relation to an FTC investigation of a potential offer from Blockbuster to acquire the shares of Hollywood. Blockbuster previously offered $11.50 per share for Hollywood, but has said it would raise that offer if Hollywood granted full access to its books, and eliminated a qualification that Blockbuster never sidestep Hollywood's management with an offer proposed directly to Hollywood's shareholders.
tags: Hollywood Video | Antitrust Approval | Movie Gallery Merger |

Washington Post Completes Purchase of Online Magazine Slate From Microsoft

Authored by Mark Hefflinger on January 14, 2005 - 8:50am.
Washington -- The Washington Post Company said on Friday that it has completed its acquisition of online magazine Slate from Microsoft. The purchase price was not disclosed. Slate, which had 6 million unique users in November according to Nielsen NetRatings, offers a mix of articles about politics, news and culture. The transaction was first announced on December 21, 2004.
tags: Microsoft | Washington Post | Online Magazine | Slate |

U.K.-based Online Ad Technology Developer Accipiter Raises $2 Million

Authored by Mark Hefflinger on January 14, 2005 - 8:31am.
London -- Accipiter Solutions, a developer of online advertising technology, announced that it has raised $2 million from Frontier Capital in its first round of venture capital financing. London-based Accipiter counts customers in 28 countries, including Freeserve, NineMSN, E! Online and Tiscali, and said over 49 billion ads are served each month using its AdManager and AdBureau services. The company will use the funds to hire additional personnel and for product development.
tags: VC | U.K | Online Ad Technology Developer | Accipiter |