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Watch Shelly’s commentary on GOOGLE (NASD: GOOG) launching “Insights for Search.”
SONY (NYSE: SNE) has agreed to re-purchase 50% of BERTELSMANN’s stake in SONY BMG for $1.2 billion. The four year old super record company will now go by Sony Music Group and will operate as a subsidiary of the Sony Corporation of America. BMG will focus its efforts on licensing opportunities.
CABLEVISION (NYSE: CVC) is considering possible spinoff’s in order to boost shareholder value. Cablevision, which tried but failed to become private last fall , could increase its value through buying back stock or spinning off it’s assets. After loading up on assets in the last year through major acquisitions, Cablevision wants to “close the value gap between [its] operating performance and the market value of [its] shares.”
DELTA (NYSE: DAL.N) will make Wi-Fi available on its entire domestic fleet by next summer. The airline will offer packages for between $9.95 and $12.95 a flight. Taking advantage of increased demand for mobile Internet connections could help the airline generate much needed cash flow.
NEWS CORP (NYSE: NEWS) reported quarterly earnings of $1.13 billion, up 27% from this time last year, while taking in $5.38 billion, during it’s fiscal year. News Corp is riding high on its past acquisitions, including SKY Italia, while continuing to increase ad revenue at assets like Fox News. Murdoch’s media giant is rumored to be unveiling a web based ad network that would help increase the profitability of its MySpace, Sky and Star properties.