News Byte

TheWrap Announces Acquisition of ItsontheGrid.com

TheWrap announced its acquisition today of entertainment industry database ItsontheGrid.com, which aggregates inside information on all aspects of film development. ItsontheGrid’s founder and President Jason Scoggins will serve as chief product officer and general manager of the site and will be responsible for a number of new products in the next year. The acquisition was made for an undisclosed amount of cash and stock.

Update: Comcast Reportedly May Buy 20-50 Percent of NBC Universal

So, the latest theory seems to be that Comcast is in talks to buy 20-50 percent of NBC Universal, the TV/movie studio/cable/theme park company owned 80 percent by General Electric and 20 percent by Vivendi.

David Geffen Wants a Chunk of the New York Times. But What Does Google Want?

David Geffen, who had previously tried to buy the Los Angeles Times, has been trying to buy a chunk of the New York Times. It’s not clear why. Also unclear: Why Google would have “looked seriously” at the opportunity to buy the Times in the last few weeks, as Fortune says it has.
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Kara Visits Hollywood News Blog, TheWrap.com (Complete With Cottage HQ Like ATD!)

While the current meme is that traditional journalism is getting the stuffing knocked out of it by the digital onslaught, it neglects to notice that a lot of really sharp news reporters are actually getting some real traction by finally starting to be serious about creating online sites that are designed to compete. As case in point, BoomTown recently visited the offices of TheWrap.com, a Web blog aimed at dominating breaking news about the business of Hollywood and the entertainment industry.
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