02.19.07
Posted in Technology, Music, Business at 6:24 pm by stark
The 2 major players in the burgeoning satellite radio industry have announced a deal to merge into a single company. The move, announced as a merger of equals, will combine the services of both companies to create a much more comprehensive lineup to subscribers. Sirius CEO, Mel Karmazin, will lead the new company with XM CEO, Hugh Panero, sticking around only until the deal is closed. While the deal has been announced, it still faces several hurdles including antitrust approval and provision with the Federal Communications Commission that specifically forbids the two companies from combining. What this move means for subscribers is still a question that can’t be answered. On one hand, subscriptions may go down, due to reduced cost and shared resources, but on the other hand may go up as a result of price fixing due to the monopolistic nature of the merge.
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02.08.07
Posted in Technology, World, Business at 10:30 am by bobbyjoe
Investors, founders, and several employees at YouTube are very happy today with the announed payouts from Google. Back in October, 2006 Google agreed to purchase YouTube for $1.65 billion in stock. “YouTube’s three founders and Sequoia Capital, its main financial backer, received the biggest windfalls.”
- Chad Hurley, YouTube’s chief executive, was paid in Google shares with a current indicated value of more than $345 million. He received 694,087 shares and an additional 41,232 in a trust.
- Another founder, Steven Chen, received 625,366 shares and another 68,721 in a trust, for more than $326 million. Jarwed Karim, the third co-founder, received 137,443 Google shares, with an indicated value of $64.6 million.
- Sequoia Capital, the sole venture capital backer of YouTube, received 941,027, valued at about $442 million.
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