Daily Archives: December 3, 2008

Chris Nuttall

LaunchcastWhile Yahoo’s management has come under relentless criticism this year for its decisions and performance, there was a reminder today that it was making even more questionable judgement calls back in the last century.

Yahoo announced it had reached agreement with CBS Radio to take over the running of its 150 Launchcast internet radio stations from early next year.

Today they should all be playing funeral dirges for Yahoo’s 1999 acquisition of Broadcast.com for $5.7bn. Admittedly, this was an all-share transaction at a time of inflated valuations, but co-founder Mark Cuban was quick to cash in and invest elsewhere, making himself a billionaire in the process. Read more

Chris Nuttall

Credit-crunched Americans appear to have turned to the internet for their Christmas shopping bargains this year, with the comScore research firm reporting “the second heaviest online spending day on record” on “Cyber Monday” this week.

ComScore says $846m was spent on Monday, up 15 per cent on last year and only beaten by the seasonally busier “Green Monday” in 2007, when $881m was spent on the second Monday in December. Read more