Twitter is raising money at a $1 billion valuation. The micro-blogging service is hoping to raise approximately $50 million at the $1 billion valuation. While the company still doesn't have a true business plan, let alone generates revenue, it very well could raise an additional $50 million, as it raised $35 million earlier this year.
And while Twitter's new investors are going to own a fractional percentage of Twitter, KKR could end up owning as much as 20% of Eastman Kodak. They are leading a $700 million hybrid equity and debt round of financing. It's a good investment, Kodak is coming back strong.
Google is reportedly in talks to purchase streaming video service Brightcove. While rumors have not been substantiated, reports claim that Google will purchase the company for between $500-$700 million. While the company has reportedly earned over $80 million this year, CEO Jeremy Allaire was recently on a publicity tour, during which he claimed that Brightcove didn't want to be acquired by a bigger company.
WWE CEO Linda McMahon has resigned as CEO of the company in order to run for Senate. McMahon, who has appeared on screen as a character in the WWE's entertainment sports programming, will be succeeded by her husband Vince McMahon. McMahon is seeking the Republican nomination in Connecticut.
Skype founders Janus Friis and Niklas Zennstrom are suing Skype in a copyright lawsuit. The suit was filed by the Joltid, a company owned by the Skype founders, would interfere with eBay's plans to sell Skype to a group of investors for $2 billion. Joltid is also seeking profits that Skype generated while using its patented technology, damages that reportedly amount to $75 million daily.
Shelly Palmer is a consultant and the host of MediaBytes with Shelly Palmer 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. Shelly is also President of the National Academy of Television Arts & Sciences. You can join the MediaBytes mailing list here. Shelly can be reached at shelly@palmer.net For information about Get Digital Classes, visit www.shellypalmer.com/seminars