Posted by Sheila Shayon on November 18, 2013 01:47 PM
Forbes Media is the latest victim of a dying print industry.
Perhaps best known for ranking wealthy individuals worldwide, Forbes is on the block for an estimated $400 million to $500 million in a sale being handled by Deutsche Bank. Former Republican presidential candidate Steve Forbes, who serves as editor-in-chief told employees on Friday that they’d received numerous inquiries about a sale.
The venerable, 96-year-old brand, founded by financial newspaper columnist B.C. Forbes in 1917, has been confronted by declining ad sales and dwindling profits as print-based media brands struggle to transform content, platform and purpose in a world wired 24/7.
B.C. Forbes was succeeded by his son, Malcolm, who was known for his expensive tastes including hot air balloons, Faberge eggs, Victorian art, real-estate and a motorcycle collection—all of which was sold off along the way, including Forbes’ longtime headquarters, which was sold to New York University in 2010. Forbes began making changes to its privately-held structure in 2006 to augment its digital presence by selling a 45 percent stake to Elevation Partners, the private equity firm co-founded and backed by U2 frontman Bono and Roger McNamee for close to $240 million.Continue reading...
Posted by Sheila Shayon on October 28, 2013 01:20 PM
Amazon CEO Jeff Bezos (as the story goes) chose a company name starting with "A" so it appeared early in search results, and Amazon, as the world's largest river, fit his vision of creating the biggest store in the world.
Staying true to that founding DNA as it expands from the world’s first online bookseller to include everything from original programming to fashion, Bezos has tapped Clark Johnson (Homicide: Life on the Street, The Wire) to produce his next project, Alpha House, for the Amazon Studios unit. The GOP comedy, created by Doonesbury cartoonist Garry Trudeau and starring John Goodman, debuted its pilot episode on Amazon in April, using the preview as a focus group to tweak the show before its exclusive debut to Amazon Prime members next month.
The $79-a-year Prime subscription service is key in Amazon’s plan to snare viewers. “It’s about making delight for Prime members,” commented Amazon CEO Jeff Bezos to the Seattle Times. “What can we do that would make somebody be a happy Prime member? If we can make great television for them, that’s going to be an element of that. And they pay us an annual fee for that.” Those members are Amazon's VIPs, big spenders who typically shell out three times more than non-Prime Amazon shoppers across Amazon's channels.Continue reading...
Posted by Alicia Ciccone on October 11, 2013 09:26 AM
Del Monte to sell consumer products division for $1.68 billion.
Hershey plans to bring China-based Lancaster brand to US market.
Toyota debuts hydrogen prototype as fuel cell race heats up.
Activision's $8.2 billion Vivendi buyout is cleared.
Aereo wins injunction battle against Boston TV station.
Best Buy promises $100 buy-back credit for new iPhones.
Jeff Bezos has built Amazon into a $75 billion 'everything store,' as it looks to show shortform YouTube content on its video service.
Boeing unveils "jumbo killer."
CVS tailors print ads to loyalty members' preferences.
Facebook removes option to block search by name.Continue reading...
Posted by Mark J. Miller on September 25, 2013 05:42 PM
Amazon may the third player in the tablet race behind Apple and Samsung, but the bookseller-turned-e-commerce king has now upped the ante and introduced the third version of its Kindle Fire tablet, the Fire HDX. Available on pre-order now, the new HDX will cost consumers between $229 and $479 and comes in two sizes, 7-inch and 8.9-inch. The Kindle Fire HD price subsequently dropped to $139.
Those prices will keep the Kindle offerings at a lower price point than Apple's iPad and iPad Mini devices, however they are more expensive than the previous line of Fire devices. But of course, new features including "higher-resolution screens, faster processors, weigh(ing) less than their predecessors, and hav(ing) 4G wireless capability," justifies the price increase, Bloomberg notes.Continue reading...
Posted by Sheila Shayon on September 19, 2013 12:36 PM
It’s fitting that the world’s leading search company is looking for answers to aging and immortality.
Google is throwing its support behind Calico, a startup it is creating to focus on problems in the health care system that pertain to extending human life. Arthur Levinson, former CEO and current chairman of biotech pioneer Genentech and chairman of Apple’s board, is the newly-appointed CEO.
"Illness and aging affect all our families," Google CEO Larry Page said in blog post. "With some longer term, moonshot thinking around healthcare and biotechnology, I believe we can improve millions of lives."
If the idea sounds far off, that's because that's exactly what Calico plans on investing in. “In some industries, it takes ten or 20 years to go from an idea to something being real. Healthcare is certainly one of those areas,” Page said. "Maybe we should shoot for the things that are really, really important so ten or 20 years from now we have those things done.”Continue reading...
Posted by Dale Buss on September 4, 2013 09:14 AM
Kodak officially ends bankruptcy.
Petco launches transformation effort.
Toyota announces hybrids recall.
Amazon unveils new Kindle, Matchbook service.
Bank of America exits China bank stake.
Bison Council pushes acceptance of the meat.
Chick-fil-A offers free breakfast, with reservation.
Chrysler posts 12 percent sales gain in August as all brands ready for US sales reports today.
Google partners with Nestle to name new operating system.
Hershey boosts ad spending and sales have followed.
Johnson & Johnson adds red warning label on Tylenol over dosage concerns.
JCPenney finds love from other hedge funds.Continue reading...
Posted by Mark J. Miller on August 7, 2013 01:47 PM
While Amazon founder Jeff Bezos was busy buying the Washington Post for $250 million, staffers at the company were gearing up for the launch of a new, now confirmed business: Amazon Art. The online marketplace for fine art has more than 40,000 pieces made by 4,500 artists.
The e-tailer made deals with more than 150 galleries and art dealers to offer up their products on Amazon, which will take a 5 to 20 percent commission once a sale is made, The Street reports. The collection includes everything from $200 photographs to a $45,000 Andy Warhol painting, and Norman Rockwell's "Willie Gillis: Package From Home," which is priced modestly at $4.85 million.Continue reading...
Posted by Dale Buss on August 7, 2013 09:01 AM
Yahoo will debut new logo next month.
Target acquires online skin-care retailer DermStore.
Taco Bell adds waffle taco to breakfast-menu test.
AOL acquires online-video company Adap.tv
AT&T will replace water-damaged Samsung Galaxy S4 Actives.
British Airways targets India ex-pats.
Chrysler won't invest in EVs until pricing improves.
Darden faces foodborne-illness lawsuit.
Evian still struggles for relevance in US market.
Facebook gets transparent about news-feed issue.
Famous Brands refocuses on innovation to grow TCBY and Mrs. Fields brands.
GE quits solar panels and sells technology.Continue reading...