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CABLEVISION now officially owns a 97% share of NEWSDAY. Despite posting a wider net loss for the quarter, Charles Dolan has gone out and made two purchases tolling roughly $1.1 billion dollars ($500 million for Sundance Channel and $632 million for Newsday).
HEWLETT-PACKARD is set to acquire ELECTRONIC DATA SYSTEMS for approximately $13 billion. The all cash transaction will make H-P the second largest provider of tech services in the world. The goal of the merger is simple, compete with IT powerhouse IBM.
HBO has broken APPLE’s $1.99 price fix. The premium channel’s thirty minute shows will sell for $1.99 while longer running programs will sell for $2.99. The move is likely to impact future contracts where variable pricing is enacted.
The DISH NETWORK reported an 89% drop in new subscribers in the first quarter. While net income was up 65%, the network had 35,000 new subscribers, down 275,000 from a year ago. The loss comes at a time when cable companies and telco’s are turning up the heat on satellite television providers.
CLEAR CHANNEL will tap into internet radio with PANDORA. The radio conglomerate is looking to expand its online presence and may team with internet radio offering Pandora to add customizable radio to its networks. A deal with Clear Channel would truly help Pandora, which is suffering from inflated webcasting royalty rates enacted last year.