Jonathan Miller, the former CEO of AOL, has been attempting to raise money to buy all or part of Yahoo, The Wall Street Journal reported on Tuesday. Citing people familiar with the matter, the paper reported that Miller is trying to raise upwards of $30 billion from various investors and funds. A sale at that price would yield Yahoo's shareholders around $20-$22 a share, though sources at Yahoo told the Journal they're skeptical that Miller can pull off such a deal in the current economic environment.
Online retail giant Amazon.com announced on Tuesday that it has completed its acquisition of Canada-based AbeBooks, an online marketplace for used, rare and out-of-print books that lists over 110 million titles.
Social site Facebook has rolled out a system that lets members use other sites via the social networking portal. Called Connect, the system lets Facebook members use their login credentials to access other websites.
Conde Naste shuts flip.com
National Geographic's Green Guide, which the National Geographic Society acquired in 2007 and relaunched as a general consumer quarterly in March, has been shuttered, FOLIO: has learned. A source close the magazine said the company is "discontinuing" the magazine but "may publish some print specials." Instead, the focus will be on the Green Guide's Web site, which launched in 2002.
Google has completed the purchase of 20 million digitized historical newspaper pages from PaperofRecord.com. The two have had an agreement for two years and has now concluded in a sale that was voted on by shareholders of PaperofRecord's parent company, Cold North Wind, Inc.
Apple Macs have long had a reputation for being free of the viruses and malware that often plagues Windows. But even Apple is now admitting that its users could benefit from protection from security threats. The company began recommending that users of its Mac operating system to consider using antivirus software in a message on a company support page. "Apple encourages the widespread use of multiple antivirus utilities so that virus programmers have more than one application to circumvent, thus making the whole virus-writing process more difficult," Apple (NASDAQ: AAPL) wrote on its support page.
Nokia jumped into the touchscreen phone game by releasing the N97, a touchscreen phone with a slideout Qwerty keyboard that is similar to the T-Mobile G1. Nokia unveiled the phone at a company event in Barcelona. The HSDPA phone has WiFi capability, A-GPS and Bluetooth. The phone also has a 5 megapixel camera, "DVD quality" video capture of up to 350 frames-per-second and 32GB of onboard memory (with a microSD slot that makes the phone capable of holding 48GB). The N97 also syncs with Nokia's Ovi web portal and runs with an updated version of Nokia maps, which includes 3D landmarks, and allows users to install widgets on the phones homescreen linking to applications.
Last week, Danish Computerworld awarded IT Factory, a provider of CRM, HRM and Business Intelligence add-on solutions based on a SaaS delivery model, with the prestigious "Denmark's Best IT-company 2008″. This week, the company has been declared bankrupt and its managing director Stein Bagger went missing in Dubai while under scrutiny by the police. Stein Bagger apparently got his hands really dirty: he's wanted by the Danish police for financial fraud and a possible link to an assault on a business man (reportedly executed by members of the Hell's Angels, a group he was connected to somehow), although charges haven't been pressed so far. Nobody has seen Bagger since last Thursday, when he disappeared somewhere in Dubai, where he was attending a business conference in the company of his wife and child.
As long-rumored, The Huffington Post took $25 million in new funding at a $100 million valuation. It's a healthy sum given the company has aggregated a huge audience -- 8.8 million people a month, accordng to Quantcast -- primarily on links to content it does not produce (newspaper stories) or pay for (columns). The funding means Arianna Huffington's news blog is now considered more valuable by its backers than quite a few publicly traded newspaper companies, such as Lee Enterprises, owner of the St. Louis Post-Dispatch and 52 other papers (market cap: $36 million), A.H. Belo, owner of the Dallas Morning News and the Providence Journal (market cap: $35 million), and Media General, owner of the Tampa Tribune and Richmond Times-Dispatch (market cap: $34.6 million).