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The thumb wrestling and public positioning continues.  As expected, Yahoo today issued a prompt and dismissive (but diplomatic) reply to Steve Ballmer’s weekend ultimatum.  Yahoo “is not opposed to a transaction with Microsoft if it is in the best interests of our stockholders,” Jerry Yang and Roy Bostock said.  The offer, however, remains too low. Further, they charge that Microsoft’s assertions and threats are misrepresentative and non productive. 

The full text of the 865 word letter is reprinted below. Some of the highlights along with interpretive commentary:

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On a Friday Microsoft made public their offer to buy Yahoo at $31 a share.  Yesterday, another Friday, but two months later and with little progress made, reports circulated that Microsoft might be reconsidering its position.   Today, any confusion on that point was removed.  In a letter to Yahoo Board of Directors (copied below), Steve Ballmer explicitly began the countdown: three weeks.  Three weeks and then things get nasty.

The ultimatum issued via the letter demands negotiations be completed and terms reached.  If they’re not, Microsoft will take the offer, likely at a lower price, straight to the shareholders in a tender offer and proxy fight. 

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Every year, usually in the third week of May, TV executives roll into New York City with an exclusive little circus called “Upfronts.”  Across the city’s famed theaters like Radio City and Carnegie Hall, and in the back rooms of elite hotels, each major network puts on an extravagant show and party: music, celebrities, food and of course, the reason for the show: TV footage.   The audience of advertisers and media buyers takes notes on the presentation of new TV schedules, forms impressions of the projected new programs, and then they make bids for some of the coveted advertising slots.  The whole process unfolds like a futures market for TV advertising.  It’s even treated as a barometer for the advertising industry and a weather forecast for television.  The show is glitzy, over-produced, and especially: exclusive.    If it’s not a network show, it’s not shown.

Thursday, Microsoft, a seemingly unlikely source of original video programming, decided “who needs your Upfronts?” and moreover, “who needs TV.”  Ahead of schedule and paving a new path, the software giant decided to create their own sandbox to play in.  Click to Read More

MySpace began, in part, with the notion of building a bridge between music fans.  Two years ago, the News Corp company made plans for the logical extension: a full service digital music store.  Now, a lawsuit and a long wait later, the 30million plus music listening members (that’s 30m that listen to music on the site) out of their 110 million subscribers will get just that.

This morning, MySpace announced the formation of a standalone joint venture officially called MySpace Music.  In the words of CEO Chris De Wolfe it will be “the marriage of the world’s biggest collection of music to the world’s most popular music community.”

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For years, Yahoo’s Ian Rogers has been among the most respected executives straddling the fence between tech and the music industry.  In overseeing Yahoo’s digital music enterprises, he built a reputation for championing the interests of music fans and for being incredibly candid (especially in his outspoken critique of DRM encryption). Given that shoot from the hip style, it’s no surprise that he began a recent personal blog entry with the phrase, “I may as well set the record straight.”

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When you talk about video game consoles the first topics are usually the quality of play and the graphics; it’s the fun factor not the technology.  But beneath the surface of shiny plastic cases and glowing LED’s, these remain powerful devices with impressive technical credentials.  The consoles can do a lot more than gaming and their innovations are carrying into entirely unrelated sectors.

•••Wii Warfare•••
Nintendo’s motion activated controller has proven to be a huge hit with consumers.  The simple, but effective interface, has completely changed the nature of video game play.  It’s expanding audiences, increasing accessibility and just simply: fun.   It’s also turning out to be a lot more powerful.

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There may be plenty of buzz about next generation iPhones, or Apple’s efforts to capture the smartphone market, but Research in Motion doesn’t seem fazed.  Wednesday, when the phone maker released Q4 earnings, the numbers were strong.  Even amidst a slowing economy, RIM (Nasdaq: RIMM) easily beat guidance and doubled year over year results.

For the three months ending March 1st, RIM earned $412.5 million (72c a share) on revenue of $1.88 billion.  Both numbers are more than double year ago results when RIM reported earnings of $187.4 million (33c a share) on revenues of $930.4 million.   The Wall Street consensus was for fourth quarter earnings of 70c a share on revenue of $1.86 billion (Thompson).

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