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Watch Shelly’s commentary on COMCAST’s (NASD: CMCSA) plan to provide 100Mbps to subscribers.
TAKE-TWO INTERACTIVE’s (NASD:TTWO) profit soared due to the release of Grand Theft Auto 4. The company posted a net income of $98.2 million for the second-quarter, compared to $51.2 million a year ago, while revenue more than doubled to $539.8 million. The latest installment of GTA, which took in more than $500 million in sales the first week, is ultimately responsible for the increase, which came just before ELECTRONIC ART’s (NASD: ERTS) extended its bid for the company.
SONY (NYSE:SNE)is bringing YOUTUBE (NASD:GOOG) to television via a small set-top box. Sony’s Bravia Internet Video Link is a small module that connects to the TV and an ethernet cable and can broadcast videos from YouTube without using a computer. The box makes a plethora of web clips available for consumption on the boob tube, but doesn’t seem to do much to monetize viral video.
TIME WARNER CABLE (NYSE: TWC) is being sued by Los Angeles, who claims the cable company improperly raised prices and let their service decline. After acquiring two cable providers in 2006, TWC’s cable and internet service experienced months of outages and poor service, which eventually led to a price increase. The city of Los Angeles is suing the provider claiming users paid for a service that wasn’t provided.
Former BROADCOM (NASD: BRCM) Chief Henry Nicholas was indicted yesterday on fraud, conspiracy and drug charges. The former executive is accused of backdating stock options, as well as spiking both colleagues and customers drinks with ecstasy. Henry, who is #258 on Forbes billionaire list, is also accused of stockpiling cocaine, ecstasy and crystal meth in a California warehouse.