THE BLOG
07/13/2009 09:19 am ET Updated May 25, 2011

Pandora Receives $35 Million Injection: MediaBytes with Shelly Palmer July 13, 2009

After receiving good news over a new royalty agreement with the Copyright board, Pandora raised $35 million in funds. While news of investors is scant, Pandora said that VC firm Greylock Partners was a top contributor. The $35 injection will help Pandora pay royalties and develop new ad schemes.

News Corp is ready to turn MySpace into an entertainment-centric site. The social network, which has consistently lost popularity to Facebook, will now be a home for people with common interests. Murdoch noted that MySpace will focus on becoming an "entertainment portal."

Microsoft is combating Google's move into the operating system business by offering cloud versions of its Windows programs. The applications, which will offer word processing and spreadsheets, among other tasks, will compete directly with Google's Applications. Google, which just brought its applications out of beta in order to increase marketability, was really looking to cut Microsoft's business suite business by offering free applications to business.

Sacha Baron Cohen's Bruno took the top spot at the box office this weekend. The follow up to Borat earned $30.4 million domestically, and $25 million internationally for a worldwide total of $55.4 million. Internationally, Ice Age: Dawn of the Dinosaurs grossed another $98 million for a worldwide earning of $327.1 million in its second frame of release.


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 shelly@palmer.net For information about Get Digital Classes, visit www.shellypalmer.com/seminars