In a long and messy series of events, the 16-year partnership between Microsoft and NBC News is finally over. The world's largest software maker sold its 50% stake in the joint venture that is MSNBC.com for a reported $300 million.
The site's operations, based within Microsoft's Redmond, Wash. offices, will relocate to NBC News' home in New York.
Microsoft, meanwhile, will launch its own news service this fall, Bob Visse, general manager of MSN.com, told the Associated Press. Details surrounding the new project haven't been released, but Visse said the endeavor will require a news staff of roughly 100 people.
Comcast, parent to NBC News, plans to leverage its newfound freedom by taking control of the ad sales business previously run by Microsoft, and will sell more cross-media ad packages spanning the television and online properties of MSNBC. Its TV and website staff will be working more closely with one another, the New York Times reports.
The partnership between the two corporations has been on unsteady footing since 2005, when Microsoft sold its stake in the MSNBC cable news channel. MSNBC's liberal perspective prevented Microsoft from providing its users with the "multiple news sources and the multiple perspectives" they wanted, Visse said.
According to Bloomberg, the "MS" in "MSNBC" won't be dropped by NBC in the partnership, as the name has developed into a valuable brand. Visitors of MSNBC.com, however, are now automatically redirected to NBCNews.com. The site's content will likely parallel what's seen on the MSNBC cable news network in an effort to portray a consistent brand between TV and Web. (AP)
Quitting by Phone (Dealbook)
Google's 20th employee, first female engineer and one of its top executives, Marissa Mayer, was named chief executive of Yahoo, stepping over interim candidate Ross Levinsohn. Mayer, who was reportedly sidelined by Google CEO Larry Page, phoned in her resignation.
Related: The Next 10 Female CEOs
Publishing Woes (WSJ)
Gannett Co.'s advertising revenue from publishing fell 8.1% last quarter, the company reported in its earnings statement. Overall earnings fell 21% in the second quarter.
Digital Developments (Ad Age)
Magazine publisher American Media Inc. has appointed its first chief digital officer to lead the company's new digital development plan. The company plans to hire 60, including a digital chief revenue officer, developers, designers, researchers and a digital sales force.
Real Estate Sales (Sacramento Business Journal)
If you're looking for work in commercial real estate but struggling with the dismal market, consider Sacramento. Many firms in the region are looking to add agents in anticipation of a turnaround.
A Win (Ad Age)
Joy C. Noel, who filed a race-discrimination lawsuit against several executives at Interpublic Group, has dropped all charges against the holding company's chief executive, Michael Roth.
Back to Basics (Ad Age)
One ad-agency founder, on the eve of the firm's 11th birthday, says that the company's decade of ups and downs has taught him that some business clichés lend themselves to the development of a successful business.
A New Face at the Times (Media Decoder)
Margaret M. Sullivan, editor and vice president of the Buffalo News, has been appointed as the first female public editor for the New York Times. She'll report on the journalism the Times produces, its staff, and will serve as a point of contact with readers.
Buzz Around the Office
A 400-pound black bear who has made repeated, unwanted visits to the town of Glendale, Calif., has earned himself a nickname, political campaign and 24,000 Twitter followers.
List of the Day: Keeping a Cool Head
Great job – your boss loves you. But your colleagues don't because of it. Here's how to prevent it from going to your head.
1. Include your colleagues to make them feel wanted.
2. Don't get complacent.
3. Continue to reach for stretch assignments.
(Source: The Daily Muse)