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Watch Shelly’s commentary on the potential VERIZON (NYSE: VZ), GOOGLE (NASD: GOOG) search deal and how its could affect local media outlets.
HARBINGER CAPITAL has nearly doubled its stake in CABLEVISION (NYSE: CVC). The hedge fund, who recently became Cablevision’s fifth largest investor, now has 18.95 million shares of Cablevision. While Harbinger has been busy acquiring stock, Cablevision CEO James Dolan has been busy talking to investors and trying to boost the company’s stock.
SALESFORCE.COM (NYSE: CRM) had their market cap cut by $1.5 billion. The online software company, who took in $263 million in revenue and $10 million in net income, had a deferred revenue of $480 million, $10 million less than analysts expectations. Salesforce’s stock was valued approximately 200 times higher than its earnings per share.
FCC voted to ban use of wireless microphones and other devices that use 700-MHz band after the transition from analog to digital. Devices operating in 700-MHz spectrum, which shares space with channels 52-69, will now be occupied by wireless providers and first responders. The FCC is also looking to ban the manufacture and sale of devices that operate in the spectrum.
ESPN (NYSE: DIS) and MLB ADVANCED MEDIA have extended their deal through 2013. The deal gives ESPN the right to stream live games and MLB events like the home run derby, as long as ESPN has the television rights. The deal covers a variety of web properties, as well as ESPN mobile and a variety of emerging platforms.