MediaBytes - Friday August 22, 2008 - 2 Comments
Verizon and Google Near Search Deal: MediaBytes with Shelly Palmer August 22, 2008
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Watch Shelly’s commentary on the potential VERIZON (NYSE: VZ), GOOGLE (NASD: GOOG) search deal and how its could affect local media outlets.
HARBINGER CAPITAL has nearly doubled its stake in CABLEVISION (NYSE: CVC). The hedge fund, who recently became Cablevision’s fifth largest investor, now has 18.95 million shares of Cablevision. While Harbinger has been busy acquiring stock, Cablevision CEO James Dolan has been busy talking to investors and trying to boost the company’s stock.
SALESFORCE.COM (NYSE: CRM) had their market cap cut by $1.5 billion. The online software company, who took in $263 million in revenue and $10 million in net income, had a deferred revenue of $480 million, $10 million less than analysts expectations. Salesforce’s stock was valued approximately 200 times higher than its earnings per share.
FCC voted to ban use of wireless microphones and other devices that use 700-MHz band after the transition from analog to digital. Devices operating in 700-MHz spectrum, which shares space with channels 52-69, will now be occupied by wireless providers and first responders. The FCC is also looking to ban the manufacture and sale of devices that operate in the spectrum.
ESPN (NYSE: DIS) and MLB ADVANCED MEDIA have extended their deal through 2013. The deal gives ESPN the right to stream live games and MLB events like the home run derby, as long as ESPN has the television rights. The deal covers a variety of web properties, as well as ESPN mobile and a variety of emerging platforms.
Comments
2 Responses to “Verizon and Google Near Search Deal: MediaBytes with Shelly Palmer August 22, 2008”Matt August 23rd, 2008 7:13 am
the entertainment ind. is going to get fun, i love the fact that
the industry doesn’t have a clue to the problems which will occur
once the FCC starts slamming fines or the use of the usable
products become extraordinarily hard to use in the allocated places
which are also being taken over by Google and so on. I see spectrum
techs getting paid a lot more in the future haha!
WebDesignMiami August 24th, 2008 8:08 am
Is Salesforce.com the new ADP … or the next Datapoint? What will
happen if blue sky clears the cloud? *** This headline recently
appeared in several places across the Web: “Salesforce.com Passes
$1 Billion Annual Revenue Mark” THIS IS NOT TRUE. I don’t know
whether this material misstatement arose from media manipulation or
an honest mistake, but it’s genesis is most likely this 20 August
2008 press release… “Salesforce.com Announces Record Fiscal
Second Quarter Results” http://tinyurl.com/5m5mea …the subheading
of which claims: “First Ever Software as a Service Company to
Exceed $1 Billion Annual Revenue Run Rate” THIS IS NOT TRUE,
EITHER. “Software as a Service” is marketing technospin for
“service bureau”. And payroll processing giant ADP–another service
bureau–exceeded not only a “run rate” but actual annual revenues
of $1 billion in 1985: “The original outsourcer, Automatic Data
Processing…” http://tinyurl.com/56y5tx Yes, SalesForce.com did
report revenues of $263 million for their most recent quarter. And
yes, they have raised “FY09 Revenue Guidance to $1.070 - $1.075
Billion”. But NO, Salesforce.com has NOT passed the “$1 Billion
Annual Revenue Mark”. And despite Cheerleader/CEO Marc Benioff’s
effusive exuberance, some like Tiernan Ray do not share his
enthusiasm: “Salesforce’s Deferred Revenue Debacle”
http://tinyurl.com/6oagtp Perhaps in an effort to meet
ever-inflating investor expectations–a fire they themselves have
fueled–Mr. Ray notes that Wedbush Morgan analyst Michael Nemeroff
“…thinks Salesforce may be pushing customers to sign more
multi-year subscription contracts by lower prices, which could be
hitting deferred revenue.” And reading that, for me, brought on a
disturbing case of Datapoint deja vu: http://tinyurl.com/gk77r “By
the early 1980s, Datapoint was a Fortune 500 company. Under immense
pressure to increase sales figures, its sales representatives
encouraged customers to place large orders at the end of the fiscal
year, permitting the company to count the orders as revenue even
though the money had not been received and, in some instances, the
sold equipment had not yet even been produced…. When some of the
customers went broke before paying their bills, Datapoint had to
reverse sales or record substantial bad debts, which caused the
company to lose $800 million of its market capitalization in a
matter of a few months in early 1982. The U.S. Securities and
Exchange Commission (SEC) ordered Datapoint to stop this practice.”
Is Salesforce.com the new ADP … or the next Datapoint? Some say
their business model is to take your watch and then bill you for
the time. If so, what will happen to all those watches if blue sky
clears the cloud? Bruce Arnold, Web Design Miami Florida
http://www.PervasivePersuasion.com