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Watch Shelly’s commentary on TIME WARNER (NYSE: TWX) trying to deal AOL and how it will affect the future of the search ads business.

In Washington D.C., GOOGLE (NASD: GOOG) and MICROSOFT (NASD: MSFT) took their YAHOO (NASD: YHOO) battle to Congress. The hearings were called to evaluate the search ads deal between Google and Yahoo, which Microsoft know says will make up 90% of the search ads business. Of course, Google struck back by accusing Microsoft of trying to sabotage the search ads deal for their own gain, as they continue to pursue a deal for Yahoo’s search business.

South Korea’s SK TELECOM CORP. is in talks to buy SPRINT-NEXTEL (NYSE: S). Sprint, whose stock has lost half its value in the last year, is struggling to gain subscribers and has also reportedly been in talks with T-MOBILE. If a deal is reached, look for much of it to be backed by private equity groups, as SK Telecom has roughly half the market value of Sprint, valued at $22.6 billion.

NBCU (NYSE: GE) has sold 85% of its Beijing Olympic ad spots. NBC is getting roughly $750,000 per 30-second spot, which will equate to more than $1 billion in ad revenue. The revenue, which factors mid-day, primetime, late-night, cable and online advertisements, is expected to trump revenue from the 2004 Athens Olympic Games.

SONY (NYSE: SNE) has finally launched its long delayed video download service for PLAYSTATION 3. The store features a variety of SD and HD rentals and SD purchases from studios like Paramount Pictures, Warner Bros. and Sony Pictures. Sony is playing catch up with MICROSOFT (NASD: MSFT), whose Xbox 360 offers a similar service, and who recently partnered with NETFLIX (NASD: NFLX) to expand the service.

INTEL’s (NASD: INTC) net income rose 25% to 1.6 billion from the second-quarter of 2007. The worlds largest chip maker said its revenue rose about 9% to $9.5 billion for the same quarter. Intel believes that a strong, worldwide demand for its microchips would continue to increase profits in the 3Q.

About Shelly Palmer

Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and writes a popular daily business blog. He's a bestselling author, and the creator of the popular, free online course, Generative AI for Execs. Follow @shellypalmer or visit shellypalmer.com.



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