By combining HuffPost with AOL’s network of sites, thriving video initiative, local focus, and international reach, we know we’ll be creating a company that can have an enormous impact, reaching a global audience on every imaginable platform.
Arianna Huffington • Revealing to her readers that, holy crap, AOL JUST BOUGHT THE HUFFINGTON POST FOR $315 MILLION! THIS IS HUGE. LIKE BIG HUGE. This would be the largest deal AOL’s ever been involved in if not for that pesky Time Warner thing that ended up in tears for all involved – especially stockholders. source
problemComcast wants to buy NBC Universal, but has significant reason to competitively damage online streaming site Hulu, which NBC owns a 30 percent stake in. TV fans are worried.
solutionThe Department of Justice is forcing Comcast out of Hulu boardroom meetings, meaning they have to allow NBC content on Hulu, but otherwise have no influence on the company. source
» Will this be enough? It’s too early to tell, but the Justice Department’s restrictions on Hulu essentially put Comcast in a position of wanting Hulu to succeed, because they won’t be able to sabotage it directly, but their money is still backing it. Comcast’s Executive Vice President David Cohen put it like so: “We continue to have an interest in the growth and advancement of Hulu …and we obviously prefer to maintain our ownership position and our partnership with our content.” Let’s see if this is what actually happens. (thanks popculturebrain)
Depends on which bureaucrat you ask. In what’s looking to be a banner week for the FCC (note dripping sarcasm), Julius Genachowski said that he’s angling to approve the mega-merger, which would put Comcast in a position to screw over millions of consumers at once. That said, the merged company will agree to be willing to share their content with other companies (important) as well as with Web video firms like Netflix and Hulu (EXTREMELY important). The Justice Department, however, has yet to offer an official opinion on the merger but is rumored to not be super-happy about how the deal might affect competition. So, even if the FCC passes it, the DOJ may decline it for antitrust reasons. source
Because, hey, who needs consumer choice, anyway? The two airlines are in the kind of talks that saw Delta Air Lines and Northwest Airlines merge recently, a move which confused the pilots. They’ve almost merged a few times already, most recently in 2008. But with the warm feeling of precedent slicking the runway, the skies could clear. It might just happen this time. source
$1Bamount Walgreen’s paid to dig its fingers into the NYC market
257number of Duane Reade stores in NYC; it’s the city’s largest chain
70number of Walgreen stores in NYC; they own 7,100 nationwide
» Brand identity: If you’ve ever been in a Duane Reade, you’d probably know it’s a bit different from your average Walgreen’s. Which is why Walgreen’s says they’re not changing the name or the style of the chain right away, and will figure out how to merge the chains later. Smart move. If anything, they should bring elements of Duane Reade to Walgreen’s.
We believe the offer represents good value for Cadbury shareholders and are pleased with the commitment that Kraft Foods has made to our heritage, values and people throughout the world.
Cadbury Chairman Roger Carr • On the $19.5 billion buyout offer that Kraft showed the company today. For months, Cadbury rejected Kraft’s advances. No longer. While Cadbury is open to other offers – get your #(&^ together, Hershey – they seem quite happy with the offer that the world’s second-largest food company has put forth. If they combined, they would become the largest. source