News Byte

Bebo Founders and Shareholders Sue New Owner

Bebo’s co-founders Michael and Xochi Birch and other investors are suing its new owners and seeking $5 million in damages, paidContent reports. The group was persuaded to put more money into Bebo after Criterion Capital Partners bought the social network from AOL in 2010. The investors allege that Criterion has mismanaged the site and withheld information from them.

Does AOL’s Huge Stock Decline Make It a Bargain Acquisition Target?

Wanna buy a famous Internet company for $500 million?
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Exclusive: Myspace Sale Nearing End Today With Low $30M Price and Buyer You Never Heard Of

Have you ever heard of Specific Media? What about Golden Gate Capital? One of them is likely to be the new owner of Myspace by Thursday, as the deal to sell the distressed social networking icon goes down to the wire for a $20 million to $30 million price and massive layoffs.
ssminnow

The Myspace Sweepstakes Drag on–Another Bid Deadline Today As Sale Deadline Looms

The sale of Myspace by its owner News Corp. is still going, going, going, gooooooing on…
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Voices

Bids for Myspace Expected This Week

About a half dozen private equity firms and companies are expected to submit bids for News Corp.’s Myspace by the end of this week, according to people familiar with the matter.

Bebo–Still Big in the U.K.!–Redesigns

Bebo, the social network bought and sold by AOL, still has 10 million monthly unique visitors, with an average user age of 17 and lots of them in the U.K..

Myspace Bake-Off Starts Wednesday and–Despite Reports–No Bidder in Lead (and No Zynga Interest Either)

While no one inside or outside Myspace owner News Corp. expects fireworks and giant piles of money, the tire-kicking for the long-troubled social-networking-turned-entertainment site actually starts Wednesday. That’s when about a dozen interested parties will finally get a walk-through of the books and more by management and the serious talks begin. But, said several sources, despite a variety of reports of various interested buyers, no deal is imminent with any one of them.

Wizard of Arianna, Armstrong Attacked by Bebo Monkey and Sharkish Rupe: AOL-HuffPo Gets Taiwanesed

Words cannot describe this hysterical and deliciously warped version of AOL’s $315 million acquisition of the Huffington Post by Next Media Animation of Taiwan. Except BoomTown has hit replay 10 times now. It takes getting Taiwanesed to an entirely new level of surreal.

Viacom Sold Rock Band for a Song. A Really, Really Cheap Song.

If you’ve got $49.99, you can buy a copy of “Rock Band 3.” Or you could have bought the company that makes the videogame. Ouch.

He's Back! Bebo Founder Michael Birch Reinvests in His Old Company

See? You can go home again! And if your old home has significantly depreciated since you last saw it, you could even put some money back into it.

AOL CEO Tim Armstrong Live at D8