Seth Gilbert, 05-4-2008
Steve Ballmer said the deal would happen if the circumstances were right, that it wouldn’t if they were wrong. He said walking away was an option. He wasn’t kidding.
Shocking many analysts who predicted a deal was likely or, at the least, a hostile takeover was the next step if no agreement was reached, Microsoft pulled the plug on their efforts to acquire Yahoo.
The reversal followed a face to face meeting in Seattle between Steve Ballmer and Jerry Yang, Saturday morning. People familiar with the negotiations said Microsoft had increased its offer to $33, a share ($47.5 billion) but that Yahoo was unwilling to accept anything less than $37.
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Seth Gilbert,
Saturday, Microsoft withdrew their bid to acquire Yahoo. What follows is a reprint of CEO Steve Ballmer letter to Jerry Yang and then Yahoo’s reply.
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Seth Gilbert, 05-2-2008
Choosing a hotel used to be relatively simple; price, location and a quality ranking factored into a simple calculus. Then along came boutique hotels with luxury features and carefully chosen amenities which made things more complex. Now things like the quality of the bed, the size and sophistication of the fitness center, spa services, in-room WiFi and broadband all become criteria in an ever growing decision tree.
The Westin brand of Starwood Hotels is betting a new component will set them apart: Nintendo Wii’s. Thursday, the hotel chain and Nintendo jointly announced that they will feature the Wii game console in at least ten U.S. Westin Hotels.
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Seth Gilbert, 05-1-2008
In early April, Microsoft issued Yahoo an ultimatum. By April 26th, one way or another, Microsoft pledged, there’d be a decision. Either Yahoo would accept, Microsoft would take their buyout offer to the shareholders, or they’d walk. Something would happen. April 26th, along with earnings announcements from all relevant players, came and went. The ultimatum deadline rang out with all the import of a fire drill in an empty building.
Today, its five days since the deadline’s expiration and we’re still waiting. When I searched for Yahoo with a Google News Search, I found 498 articles linked to the first hit. That’s a lot of baited breath.
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Seth Gilbert,
Apple announced this morning (press release) they will be getting select videos on iTunes the same day the films are released on DVD. That news is getting the headlines, and deservedly so, it’s a big story and coup for Steve Jobs and team, but there’s a bigger story locked within the soundbytes. It’s a story about Hollywood and a modernizing movie industry. It’s a coming of age film. It’s a story about distribution technology and profit margins, about the old guard accepting and embracing the new. If there were a trailer to watch, the voice over would talk about throwing stones through the leaded glass of old traditions. It might close: “Broken Windows, coming soon to the Internet theater nearest you.”
The “windows” in reference are release windows, the prescribed time gaps between which films are aired over different media. Click to Read More
Seth Gilbert, 04-30-2008
While Kleiner Perkins is out raising a 13th fund, two gaming companies and one music discovery engine closed out April with fresh rounds of funding.
TURBINE: Leading the April rounds was game publisher Turbine. The Westwood, Massachusetts based game developer closed on a massive Series C to fuel their Massively Multi-Player Online Role Playing Games (MMORPGs) business. According to regulatory filings, the company took an installment of $25million out of a possible $40m in the round. Granite Global Ventures led the financing and took a seat on the board to represent the Series C stockholders. Prior investors Highland Capital, Polaris, Tudor Ventures and Columbia Capital all participated as well.
Turbine, which was founded more than a decade ago, Click to Read More
Seth Gilbert,
In efforts to turn around the long struggling company, Blockbuster, under the leadership of Jim Keyes, has gotten experimental. They’ve been testing rental kiosks, exploring cellular downloads, and evaluating concept stores. They’ve added managerial transparency. The company has even gone public with an ill received interest in acquiring Circuit City to create a new hybrid rental retail chain. Now, in the latest move from Keyes’ Frankenstein lab, Blockbuster is reportedly eyeing TV distribution too.
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