Steve Jobs will not give his usual keynote speech at MacWorld. Not only that but the upcoming conference will be the last Apple will participate in. An Apple spokesperson said "Apple is reaching more people in more ways than ever before, so like many companies, trade shows have become a very minor part of how Apple reaches its customers."
Anurag Dikshit, co-founder of PartyGaming.com, plead guilty to violating the Federal wire act. In addition to his sentence, which carries a potential two year jail term, Dikshit will be forced to pay $300 million. While the fine is significant, it should be noted that shares of PartyGaming.com were up 7% and analysts agree that talks with the DoJ are positive, whom they hope to reach a settlement with.
Best Buy's quarterly profit fell 77% during the third quarter. In response, Best Buy will cut 4,000 jobs and decrease its spending in 2009 by 50%. The Street responded well, with shares up 18% yesterday.
Oprah's Harpo Films and HBO signed a three-year deal to produce films, documentaries and TV shows for the premium channel. Karen Forte, president and executive producer of Harpo Films noted that the company both wanted to produce a more "eclectic" mix of content, as well as work outside the constraints of commercial television. This is a blow to ABC, who wanted to renew its contract with Harpo, which has had success with programs like Tuesdays with Morrie and Their Eyes Were Watching God.
Plus, today's consulting question, "Why is News Corp moving from the NYSE to Nasdaq?" Shelly has the answer on today's MediaBytes.
Shelly Palmer is a consultant and the host of MediaBytes a daily show featuring news you can use about technology, media & entertainment. He is Managing Director of Advanced Media Ventures Group LLC and the author of Television Disrupted: The Transition from Network to Networked TV (2008, York House Press). Shelly is also President of the National Academy of Television Arts & Sciences, NY (the organization that bestows the coveted Emmy® Awards). You can join the MediaBytes mailing list here. Shelly can be reached at firstname.lastname@example.org