"Google and Yahoo say deal would have survived a suit" - NY Times

In a bid to remain independant Yahoo the number 2 search engine in the world (second to Google) had tried to seal and advertising deal with Google in which they would offer advertising for Yahoo. this deal was met with apprehension from the justice department who threatened an antitrust suit against the advertising venture.

Just before the deal was to close Google pulled out, believing that this was in the best interest for the company not to expose itself to a lengthy and costly court proceeding even though they fundamentally believed that if the two companys had gone to court they would have won Mr Schmidt cheif executive of Google was quoted saying

"We cancelled the deal with about one hour to go before a lawsuit was going to be filed against our deal. We concluded after a lot of soul-searching that it was not in our best interest to go through a lengthy and costly trial which we believe we ultimately would have won.”

The deal was to be of great financial benefit to Yahoo generating anywhere from $250 to $450 million in extra revenue in the first year.

Reference

http://www.nytimes.com/2008/11/07/technology/companies/07google.html?_r=1&scp=5&sq=google&st=cse&oref=slogin

New world order

Media as an industry is growing in size, in effectivity and competitivness everyday. From newspapers, to radio, to television, the internet, now online newspapers, blogging, digital television and mobile phone technology, it seems that the media industry is not and should not stop innovating the way we receive news and information on the world anytime soon.

As I discussed in a previous blog journalism and particulary newspapers have been affected immensly by the conception of internet news and advertising. Most papers now have corresponding websites featuring news blogs, interactive surveys, picture galleries, video and audio. It seems that the old image of people reading the paper at breakfast before work is now people checking their iphones for news bulletins.

Something that i think is important when considering how personalised we can make our online news reading is that if we continue to only receive news that interests us, we will end up with a population with limited knowledge of issues outside their niche market of interests. This is why i think that broader news options like the newspaper and television news to some extent will always be popular. The main reason being that we can generally rely on them as a credible news source which covers a large range of issues. It is a responsibility i think of the media to keep people informed and to keep big business and politics in check, although we may not always be able to rely on some press to do so it is important to me that we can use the media as a tool for democracy and that in the future we will have mastered the art of all new forms of media to create a much more effective and respectable way of reporting the news and to provide advertising.