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Reuters - Saturday, July 11
Big media seek 21st century business models
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SUN VALLEY, Idaho - Media moguls at this week's Sun Valley conference have spent as much time discussing how to reconfigure business models disrupted by the Web as they have worrying about the weak economy. With difficult credit markets and an unclear future, talk of dealmaking has been at a minimum this year. Yet there has never been a more important time for media conglomerates and their financiers to act and adapt to the Internet age.
North Korea army behind South web attack: report
SEOUL - North Korea's military is behind a series of cyber attacks against South Korean and U.S. websites that slowed or disabled access by saturating them with traffic this week, a South Korean news report said on Saturday. The attacks on dozens of U.S. and South Korean government and business sites appeared to have all but ceased as of Friday but have crippled hundreds of personal computers that had been turned into "zombies" when they were enlisted for the attacks.
Power.com countersues Facebook over user data
LOS ANGELES - Power.com, a San Francisco based aggregator of social networking sites, on Friday sued Facebook in a California court to try to resolve who owns data on social networking websites -- users or the sites. Power says users do. It plans to take a stand in its lawsuit to ensure that users have rights to "complete and total" ownership and control of their content, and to protect their content from other users and corporate entities.
Google CEO to discuss his role on Apple's board
SUN VALLEY, Idaho - Google Inc <GOOG.O> Chief Executive Eric Schmidt said he will talk to Apple Inc <AAPL.O> about how his role on its board might change after Google's move to launch a new operating system. Earlier this week, Google announced it was developing software for personal computers based on its Chrome Web browser, which would compete with Microsoft Corp's <MSFT.O> Windows as well as Apple's OS X platform.
Apps a nail in coffin of broadcast mobile TV
HELSINKI - For years it was the talk of the wireless industry: beaming television to the world's four billion cellphones would be the icon of the digital age. Now, just three letters are hastening the demise of that vision. App. Short for "application," the programs people download from online stores to run on their portable phones have enabled consumers to choose for themselves which moving pictures to take in when they are on the go.
AOL reviewing assets, but will likely keep Bebo
SUN VALLEY, Idaho - AOL, which is in the process of being spun off from Time Warner Inc <TWX.N>, is reviewing assets it could sell or divest, but will likely keep its social networking site Bebo, CEO Tim Armstrong said. Armstrong told Reuters on Thursday that Bebo still has "great value" and that it will be moved to a Ventures unit of the online company so that work can be done to improve the site. The move has raised speculation that AOL may want to sell Bebo, which has lagged in popularity behind other social media sites like Facebook and Twitter.
AT&T takes issue with antitrust criticism
WASHINGTON - Telecommunications giant AT&T <T.N> struck back on Wednesday at Sen. Herb Kohl, chair of a congressional antitrust panel, saying the lawmaker's concerns about a lack of competition in the wireless industry were unfounded. Kohl wrote to the Justice Department's top antitrust regulator Christine Varney and Federal Communications Commission Chairman Julius Genachowski on Monday to reiterate concerns over texting prices, large carriers failing to cooperate with smaller carriers to resolve roaming disputes, disputes over spectrum and deals that give one or another carrier exclusive access to popular phones like the iPhone.
Bloggers test boundaries in Saudi Arabia
JEDDAH - Armed with a computer, an internet connection and his own intellect Ahmed Al-Omran is one of a few Saudi bloggers trying to push for change and make themselves heard in the conservative Gulf Arab monarchy. Blogging provides a rare platform for speech in a country which has no elected parliament, where clerics have strong influence on public opinion, newspapers often parrot the official line and public demonstrations are banned.
News Corp won't buy Twitter, won't sell MySpace
SUN VALLEY, Idaho - News Corp <NWSA.O> is not interested in buying popular microblogging site Twitter and will not sell its struggling social network MySpace, said the media conglomerate's chief executive, Rupert Murdoch. Murdoch, who arrived on Wednesday at the Allen & Co investment bank's Sun Valley media and technology conference, said Twitter would be a tough investment to justify because it has not yet come up with a sustainable way to make money.
Ericsson to manage Sprint network in $4.5-$5billion deal
NEW YORK - Sprint Nextel Corp <S.N> said it would pay Ericsson <ERICb.ST> $4.5 billion to $5 billion to manage its network under a 7-year deal in which 6,000 Sprint workers will move to Ericsson. Sprint shares rose 4 percent. Sprint said it would keep full control of its network after the deal, which is the first of its kind for a major U.S. operator. Sweden's Ericsson said the deal would initially hurt margins but provide "satisfactory" profits over seven years.
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