Universal, Warner Bros, Sony and Paramount, amongst others, have teamed to fight the Pirate Bay. The group of Hollywood studios filed a lawsuit in the Pirate Bay's native Sweden, claiming that the site should be shut down over copyright issues. While the torrent site's founders were fined and sentenced to time in jail, the site still continues to run. The coalition hopes to completely shut down the Pirate Bay.
Verizon is officially set to begin selling the Palm Pre in early 2010. The wireless provider, which is also in talks with Apple to begin carrying the iPhone, will be the second carrier to have access to the new Palm Pre. The move comes as the Department of Justice continues to investigate exclusivity agreements between wireless providers and mobile phone manufacturers.
Sprint Nextel is set to purchase Virgin Mobile USA for $420 million. The struggling wireless provider, which lost 4.6 million subscribers last year, will gain an additional 5.25 million subscribers. Sprint Nextel hopes to complete the deal by the fourth quarter.
The Wall Street Journal is reporting that Microsoft and Yahoo have agreed to a search advertising deal. The agreement finds the two companies teaming to battle Google in the search ads business for ten years. While analysts have predicted that the deal may bring scrutiny, representatives note that a deal between Microsoft and Yahoo would only spur competition.
Viacom reported a 32% decrease in quarterly profits. The media conglomerate, whose total revenue fell 14%, reported a net income of $277 million, with total revenue falling to $3.3 billion. The company noted that domestic ad spending was down 6% for the quarter, with CEP Phillippe Dauman noting that Viacom will "continue to manage costs aggressively and make changes in the business that will better position Viacom for growth."
Shelly Palmer is a consultant and the host of MediaBytes with Shelly Palmer a daily show featuring news you can use about technology, media & entertainment. He is Managing Director of Advanced Media Ventures Group LLC and the author of Television Disrupted: The Transition from Network to Networked TV. Shelly is also President of the National Academy of Television Arts & Sciences. You can join the MediaBytes mailing list here. Shelly can be reached at firstname.lastname@example.org For information about Get Digital Classes, visit www.shellypalmer.com/seminars