Posted at 8:15 AM PT 
CEO Tim Armstrong says he’s still overhauling the Internet company in advance of its spinoff from Time Warner, but he has hopeful noises to make about ad sales. But he has nothing to say about chats with Microsoft.
Is the newspaper advertising slump about to end? Nope. But it’s continuing to get a little bit less awful.
A survey of some of the remaining analysts covering the industry, as well as people who actually work in it, concludes that Q3 ad revenue will be down 25 percent. Awful by any standard except those of this year: Q1 was down 28.3 percent and Q2 was 29 percent.
The hackers who duped the New York Times into serving a bogus ad last week may be part of a growing trend. Or they may just be very active: Microsoft says it has been hit by a similar attack and is suing the people behind it.
But first the company needs to figure out who the culprits are.
Who’s going to be the first Web star to make it to the movies? One alarming possibility: Lucas Cruikshank, better known to a staggering number of YouTube viewers as “Fred.”
Rupert Murdoch has been pushing The Wall Street Journal to raise its prices. Here’s one way to try it: Levy an additional fee for subscribers who want to use the paper’s iPhone or BlackBerry apps.
Posted at 6:28 AM PT
Eric Spiegelman has a Web video hit on his hands. “Old Jews Telling Jokes,” a series of short clips featuring exactly what the name suggests, is popular, viral, and cheap to make. But he still can’t cover his costs with Internet advertising. Enter the ancillary products, like a new book deal.
Even when the M&A market was shut down, Wall Street couldn’t stop speculating about GE’s intentions for its NBC Universal unit. And now that it’s deal-making time again, the chatter is getting very noisy.
Hence the flurry of coverage over yesterday’s remarks by Vivendi CEO Jean-Bernard Levy, in which he said…not very much.
Posted at 4:00 PM PT
Is Twitter a billion-dollar company? It is now, according to its investors. People familiar with the company tell me it has raised around $50 million in a funding round that values the start-up, which has no real revenue to speak of, at about $1 billion.
Daylife, a news aggregator that launched a few years ago with a good deal of hype but has since retreated to the back pages, has landed another investor: Getty Images has bet $4 million on the company, which has raised some $12 million to date.
There are very good odds that there are going to be some very big deals happening in the media world in the next year or so. So this move makes a lot of sense: Former Time Warner CEO Dick Parsons is joining up with Providence Equity Partners, the private equity firm with a hankering for media investments.
This isn’t the long-rumored round of mass layoffs, but AOL boss Tim Armstrong did let go of two executives today: COO Kim Partoll is out, as is John Kannapell, SVP of search and local media.
What do you do if you’ve got a grip on the Web/design software market? Expand into the Web measurement business, apparently. Adobe, whose Photoshop and Acrobat software offerings dominate the Web publishing business, will pay $1.8 billion to acquire Omniture, whose Web traffic measurement software is that industry’s standard.
Posted at 12:45 PM PT
Adam Carolla, the former CBS radio host who started a podcast once he lost his job, has figured out how to turn his talent and Internet audience into money. He’s going back to work for CBS.
How do you sell a business magazine that lost $43 million last year? Convince buyers that they could fire 20 percent of the staff without missing a beat.
That’s part of the pitch Evercore Partners has been making to investors on behalf of McGraw-Hill, which wants to dump BusinessWeek. Look out, copy editors!
Yes, Viacom is still suing Google for a billion dollars, because it says too many of its videos showed up on YouTube. But that doesn’t mean Viacom and Google can’t work together to prevent the cable giant’s videos from showing up on YouTube.
Want to see this in action? Go to YouTube and try to find a clip of the Kanye West/Taylor Swift/Beyoncé incident from Sunday night’s Video Music Awards.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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