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Yahoo! Chief Marissa Mayer May Scrap $4.2 Billion Shareholder Payout (The Telegraph)
The unexpected twist disclosed in regulatory documents filed late on Thursday after the stock market closed caused Yahoo! shares to drop more than 3 percent in extended trading. Mayer is mulling a shift in direction as part of a sweeping review that she is conducting in an attempt to revive Yahoo!'s revenue growth, spur more product innovation and boost the company's stock price. Those goals have eluded her recent predecessors. WSJ / MarketBeat Yahoo! shares slid in after-hours trading amid word that the company is engaging in a review of its business strategy. THR Shares of Yahoo! fell 1 percent during the regular session Thursday to $16.01 before sinking another 4 percent after the closing bell. CNET Instead, Yahoo! hints that it might use the money to make acquisitions -- news, not surprisingly, that Wall Street didn't like. Bloomberg Mayer, who joined last month as CEO, is trying to drive a turnaround at a company that suffered three straight years of sales declines as Google Inc. and Facebook Inc. did a better job attracting users and advertisers. AFP / France 24 In May, Yahoo! raided its archrival in its latest quest for resurrection, hiring Mayer when she was a key Google executive as the struggling Internet pioneer's new chief. Forbes She immediately said that she would examine the entire company's operations, and initial changes seem to suggest that Mayer intends to remake Yahoo! largely in Google's image, placing a special emphasis on product development.
Google Pays $22.5 Million to Settle Apple Safari Charges (Reuters)
Google Inc. will pay $22.5 million to settle charges it bypassed the privacy settings of customers using Apple Inc.'s Safari browser, the U.S. Federal Trade Commission said on Thursday. NYT / Bits The fine is the largest civil penalty ever levied by the commission, which has been cracking down on tech companies for privacy violations and is also investigating Google for antitrust violations. Los Angeles Times The FTC said Google bypassed Apple software's privacy settings to track users across the Web and show them personalized ads. The behavior violated terms of the settlement Google reached with the commission last year over Google's now-defunct Buzz social networking service, the FTC alleged. Wired / Threat Level Google immediately disabled the practice in February after the Wall Street Journal disclosed it, which was discovered by Stanford researcher Jonathan Mayer and confirmed by security consultant Ashkan Soltani. Politico The track record of going back on its word when it comes to privacy has regulators around the globe wondering: Can Google be trusted?
Apple vs. Samsung Trial Reveals Sales Numbers (SlashGear)
Apple and Samsung are currently duking it out in court over various patent infringement allegations, and as part of the proceedings the two companies have had to submit detailed sales numbers for their smartphones and tablets. AllThingsD Documents filed by Samsung lawyers on Thursday reveal that, from June 2010 through June 2012, Samsung sold 21.25 million phones, generating $7.5 billion in revenue. On the tablet side, the company sold 1.4 million Galaxy Tab and Galaxy Tab 10.1 devices, producing $644 million in revenue. Time / Techland The patent trial of Apple vs. Samsung has been fascinating to read about if you're interested in either company's inner workings. So far, we've learned that one Samsung executive freaked out about the iPhone, that Apple considered making a car and that Samsung's 7-in. tablet spurred Apple's interest in a smaller iPad.
Marc Duvoisin is Named Managing Editor of The Times (Los Angeles Times)
Marc Duvoisin, a veteran editor who has overseen multiple award-winning projects at The Los Angeles Times, was named managing editor of the newspaper Thursday. FishbowlLA In a memo from editor Davan Maharaj: "As you know, this announcement is a long time coming. It reflects months of thought about how we position The Times to succeed in the digital era while maintaining the values and traditions of great journalism that brought us here in the first place."
Job Market for Journalism Graduates Shows Improvement (JimRomenesko.com)
The just-released annual journalism jobs survey from the University of Georgia found: The job market for graduates of U.S. journalism/mass communication programs showed modest signs of improvement. Poytner / Mediawire The study also found that median salary of those new graduates rose from $30,000 to $31,000, but when you factor in inflation, that's almost $2,000 less than in 2000.
Western Mail Caption Fail: Welsh Paper Adds 'LOL' To Picture About Man's Death (HuffPost)
OMG! We've seen copy editing mistakes before, but this one might take the cake.
Lions Gate Posts First-Quarter Loss on Marketing Expenses (Bloomberg)
Lions Gate Entertainment Corp., the independent film studio that produced "The Hunger Games," posted an unexpected first-quarter loss of $44.2 million, citing costs to market five pictures. Los Angeles Times / Company Town The Santa Monica studio reported revenue of $471.8 million in its first fiscal quarter, up dramatically from the same period a year ago. However, the studio swung to a $44.2-million net loss, compared with $10.3 million of net income in the previous year.
AMC Earnings Up on Revenue Gains (B&C)
AMC Networks reported higher earnings in the second quarter, but warned its dispute with Dish Network could hurt profits in the future. Variety "Although Dish Network's termination has reduced the company's total subscribers by approximately 13 percent, the impact on our (cash flow) and operating income, if it continues, will be materially higher," the company said.
Luxe Startup Du Jour: Binn Rolling Out Digital and Print Quarterly (New York Post / Media Ink)
Du Jour, the digital and print media company headed by Jason Binn, will debut its luxury magazine this month with 110 ad pages and an estimated $4 million in booked advertising right out of the gate.
Americans, Viewers Want Top Olympics Events Televised Live (Gallup.com)
Americans who say they are watching the Olympics "a lot" are most likely to want the most popular events televised both live during the day as they happen and on tape delay in the evening.
That New York Times Piece on Lolo Jones Got a Lot Right about Women in Sports (Slate)
I am showing up late to the Lolo Jones party to raise an eyebrow over New York Times public editor Arthur Brisbane's rebuke yesterday of Jere Longman, the writer of a weekend profile of Jones that's been widely denounced as a nasty-gram. Chicago Sun-Times Jones appeared on NBC's Today on Wednesday and was asked about a recent story in The New York Times that said her stardom had more to do with marketing than her accomplishments on the track. "They just ripped me to shreds, and I just thought that that was crazy," Jones said.
Hackcraft: Blizzard Warns of Security Intrusion, Recommends Users Change Passwords (Time / Techland)
It's getting so companies that haven't been hacked are probably starting to feel left out: Blizzard just announced that it recently discovered an "unauthorized and illegal access" to its internal network -- a breach that included access to sensitive personal data. Forbes An investigation which involves law enforcement and security experts is under way. Here's what Blizzard knows so far.
Ouya Kickstarter Drive Nets $8.5 million. What's Next? (The Christian Science Monitor)
Android 4.0-based gaming console company Ouya has raised $8.5 million on Kickstarter -- approximately nine times the original goal of $950,000. Forbes There's sort of a strange realization now that Ouya has $8.5M of gamers' money, and they have nothing but a promise. And you can't play a promise.
Daily Report: The Campaign for Mobile Payments Intensifies (NYT / Bits)
This week, Starbucks joined forces with Square, a technology start-up that lets you pay for things with a smartphone. But even though the partnership is a powerful endorsement for mobile payments, it is far from certain that your phone will replace your wallet anytime soon, reports Brian X. Chen in the New York Times.
Harlem Entrepreneur Peggy Dodson to Launch Multicultural Cable-TV Network This Fall (New York Daily News)
A Harlem entrepreneur will try to defy all the odds and launch a new cable-TV network this fall, hoping to fill what she calls a gaping hole in "multicultural programming."