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GOOGLE and YAHOO have delayed their search advertising deal. Both companies, whom agreed to delay implementing the deal until October, have decided to postpone the deal a little more while they work with the Department of Justice. The search ads deal, which has been unpopular with advertisers and search competition, has come under DoJ and EU scrutiny as the pairing counts for over 82% of the search ads business.

DREAMWORKS and PARAMOUNT announced a separation agreement on Sunday. The former team will divide up its 200 projects amongst each other, while remaining partners on nearly 30-40 projects. The split comes as Dreamworks head Steve Spielberg is in the process of starting a new company with $550 million in equity from India’s Reliance BIG Entertainment and another $700 million, possibly from JP Morgan Chase & Co.

FACEBOOK co-founder Dustin Moskovitz is leaving the company. Moskovitz, along with star engineer Justin Rosenstein, one of the first employee’s Facebook scooped from Google, will concentrate on a new startup. Moskovitz and Rosenstein are the latest Facebook higher-ups to jump ship before the company begins allowing employees to sell portions of their Facebook shares at Facebook’s internal accounting valuation.

In another instance of “don’t-believe-everything-you-read-on-the-internet”, Steve Jobs was not rushed to the hospital the other day, complaining of chest pains. The rumor began on CNN’s iReport site, a video site for citizen journalists, which claimed that Jobs had been rushed to the hospital after suffering a heart attack. The story gained traction on DIGG and TWITTER, and others, like Silicon Valley Insider, picked it up as both an important story and an important indicator of the power of citizen journalism. Well, it ended up being neither, just another internet hoax, debunked by Apple’s spokesperson. Just another reminder, don’t believe everything you read on the internet.

Plus, today’s consulting question, “How serious are Misty May’s injuries and do you really think Dancing with the Stars will bring back Kim Kardashian?” Shelly has the answer on today’s MediaBytes.

About Shelly Palmer

Named one of LinkedIn’s Top 10 Voices in Technology, Shelly Palmer is CEO of The Palmer Group, a strategic advisory, technology solutions and business development practice focused at the nexus of media and marketing with a special emphasis on machine learning and data-driven decision-making. He is Fox 5 New York's on-air tech and digital media expert, writes a weekly column for AdAge, and is a regular commentator on CNBC and CNN. Follow @shellypalmer or visit shellypalmer.com or subscribe to our daily email http://ow.ly/WsHcb

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"Google, Yahoo to Delay Search Ads Deal: MediaBytes with Shelly Palmer October 6, 2008" by @ShellyPalmer

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