Off The Shelf: So What If $1 Million Isn?t What It Used To Be? One million dollars is a nice round number to aim for as you plan for retirement, and is the focus of two new books.... Read Full Article Contaminated Water In Queens Is A Repeat Performance The area where city officials found an industrial chemical in the drinking water last week has had problems with contamination by the same chemical for several years.... Read Full Article Stocks Lose Steam On Subprime Worries Concerns about soured home loans and the solvency of some lenders shot down a two-day recovery on Wall Street, causing stocks to give up sharp gains and move lower.... Read Full Article Bankers Must Take Long-term View Of Their Reputation The word banker never used to be an insult. It once stood for a pillar of the community, a captain of capitalism. But bankers’ reputations have soured as their bonuses have bloated.<br/... Read Full Article Ex-Chief Of S.E.C. Says Pension Funds In Danger Arthur Levitt Jr. said the current pension system was fraught with problems, including conflicts of interest, opaque accounting and a tendency to overpromise benefits.... Read Full Article |
NBC Universal Unit Acquires Video Start-UpMulti-platform entertainment programmer LX.TV has been acquired by NBC’s Local Media Division. LX.TV began producing hi-def programming for NBC Universal’s (NYSE: GE) WNBC last January. The company will become a standalone unit within the Local Media Division and will produce “cultural and lifestyle programming” across the group’s local media platforms. Headlines from paidContent.org Gore-Backed Current TV Files For $100 Million IPO; $63.7 Million 2007 Revs; Losses Mount NYMag Rents Online Reviews Out To Real Estate Broker Site EX-DJ Director Li To Settle Insider Trading Charge With SEC: ReportsFormer MTV execs Joseph Varet and Morgan Hertzan founded the local entertainment company as Code.TV, a broadband channel for young, affluent urbanites, in 2006 with funding from family and friends. While no one is talking money, we hear the deal could be worth about $10 million, not a huge hit but a more than decent exit. (In response to a query I just got, “could be worth” is the key—not saying they got $10 million cash.) As part of the deal, Varet, the CEO, will be a consultant during the transition while Hertzan will be SVP and GM for LX.TV. The unit will remain NYC-based but will expand to include production offices in other NBC local owned-and-operated markets. NBC owns 10 local stations. Part of LX.TV’s appeal to NBC Local Media is its out-of-home use—for instance, NYC taxis—at a time when NBC is expanding its out-of-home reach and advertising efforts. NBC Local Media just announced another new business unit: Everywhere, to focus on that growing market. Copyright 2008 CMN News Service. All Rights Reserved. Tag CloudExternal InformationAdditional InformationNokia opens mobile gaming service...Cyberfamilias: Visits to Doctors Who Are Not in, Ever... Second Life founder to step down... Stakeholder Sues IAC Over Breakup Plan... Where Am I?News Main Page - Business - NBC Universal Unit Acquires Video Start-Up |
i8news.com |