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Don Cornelius, Soul Train Creator, Is Dead (NYT / AP)
Don Cornelius, creator of the long-running TV dance show Soul Train, shot himself to death Wednesday morning at his Los Angeles home, police said. He was 75. TMZ: We're told cops discovered the body at around 4 a.m. PT. Law enforcement sources tell us Cornelius died from a gunshot wound to the head and officials believe the wound was self-inflicted. LA Times / L.A. Now: The sources said there was no sign of foul play, but the Los Angeles Police Department was investigating.
AOL Beats The Street, Q4 Revenue Down 3 Percent To $577M (TechCrunch)
AOL reported better-than-expected fourth-quarter earnings Wednesday morning. The company, which owns TechCrunch, reported revenue of $576.8 million, down 3 percent from Q4 2010 revenue of $596 million. Earnings came in at $0.23 per share, or $22.8 million, down 66 percent from $66.2 million a year ago. Analysts expected $0.16 per share. paidContent: AOL Wednesday reported that its strategy to turn around its advertising business is definitely paying off, with sale up by 10 percent on the year before. But that wasn't enough to make up for declines in subscriptions and other areas, resulting in a net decline in revenues for Q4. AllThingsD: While the results are still down significantly from a year ago, AOL's stock has been rising -- gaining more than 25 percent in the quarter -- since CEO Tim Armstrong has improved advertising revenue. Forbes: For quite some time now, Armstrong has been telling investors that parts of Patch, the company's network of hyperlocal news sites, would cross over into the black by the end of 2011 in a "rolling thunder" of profitability. But on the company's year-end earnings call Wednesday, there was nary a rumble.
Wall Street Journal Launches YouTube Channel (SocialTimes)
As all traditional papers are required to do these days, The Wall Street Journal is taking a step into the digital age by launching its own YouTube channel.