Mark Zuckerberg Earns More Than $1B in Facebook Stock Sale

May, 23, 2012 2:13 pm | Comments On #Facebook, IPO, Mark Zuckerberg, Media, Stock

Facebook's initial public offering last week is now largely considered a dud, the victim of technical problems from Nasdaq and investor overhype. 

One person who has made out very well financially from the the social network's stock market debut is its founder and CEO Mark Zuckerberg. 

The hoodie aficionado netted over $1 billion after cashing in 30.2 million shares, according to a public filing. The stock sold for $37.58 a share, slightly less than Facebook's $38 IPO price.

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The Flaming Lips Take Aim at Jay-Z for MTV's O Music Awards

May, 23, 2012 12:16 pm | Comments On #Flaming Lips, Jay-Z, MTV, music, o music awards, Viacom

The Flaming Lips will try to break Jay-Z’s world record for most shows in a 24-hour period as part of the Viacom Music Group’s third O Music Awards.

Jay-Z performed seven shows in different cities, so the Oklahaoma City-based Lips will aim for eight shows on June 27 while traveling on a bus from Memphis to New Orleans.

MTV announced the Lips’ performances while unveiling the 24 different categories for the 24-hour show, which will be live-streamed across MTV's digital properties and potentially on television.

Categories include “Must Follow Artists on Twitter,” “Hottest Music NILF (Nerd I’d Like to F---),...

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Oprah Winfrey Gets OWN Section of Huffington Post

May, 23, 2012 8:00 am | Comments On #Arianna Huffington, Huffington Post, Media, Oprah Winfrey, OWN, Television

Oprah Winfrey will soon have her own section of the Huffington Post to go along with her OWN network.

The new Winfrey and OWN section of the site will debut in August and will be curated and created by writers and producers of OWN and Oprah.com for The Huffington Post. The goal of the partnership is to bring some of Winfrey's fanbase to The Huffington Post while sending some of the Huffington Post audience to Winfrey's ratings-challenged OWN.

"We are thrilled to partner with Oprah Winfrey and OWN," said Arianna Huffington. "Oprah was about engagement and authenticity long before engagement and authenticity ruled the web. And since those qualities are deeply embedded in the DNA of both OWN and HuffPost, I’m delighted that we’ll be working together to enlarge the conversation on living...

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Barry Diller's Aereo Wins Partial Dismissal of Broadcasters' Suit

May, 22, 2012 12:05 pm | Comments On #Aereo, barry diller, broadcasters, Media

In a partial victory for Aereo, a U.S. district court judge dismissed part of a lawsuit brought against the digital television company by a group of major broadcasters. 

Backed by media mogil Barry Diller, Aereo launched last March but has faced fierce legal challenges from NBC, CBS, ABC, FOX, PBS and Univision, all of whom have filed suit alleging that the company does not have their consent to retransmit their programming.

Getty Images

In response, Aereo has argued that it has a legal right to access broadcast signals because the airwaves are publicly owned.

Also read: ...

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Facebook Plunges Below IPO Price

May, 21, 2012 1:05 pm | Comments On #company, Facebook, IPO, Mark Zuckerberg, Media

Mark Zuckerberg may have tied the knot with girlfriend of nine years, Priscilla Chan, over the weekend, but Wall Street isn't allowing his newly public company much of a honeymoon. 

Facebook shares plunged below their initial public offering price of $38 on Monday in what was generally a strong day for the stock market. 

The social network's stock fell over 10 percent to close the day at $34.03 and continued to fall in after-hours trading. 

Also read: Mark...

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Kevin Smith, Richard Linklater Join Hulu Summer Slate

May, 21, 2012 7:16 am | Comments On #Hulu, kevin smith, Media, Spoilers, Television, Up to Speed, We Got Next

Hulu unveiled a summer slate of 10 shows Monday, including the Kevin Smith movie show "Spoilers" and a Richard Linklater travel show called "Up to Speed."

"Spoilers," a half-hour movie "revue" with fearure the "Clerks" and "Red State" director talking movies. It launches on Hulu and Hulu Plus on June 4th.

"Up to Speed," from the "Dazed and Confused" and "School of Rock" director, stars Speed Levitch ("The Cruise"). It debuts in August.

The basketball comedy "We Got Next, "co-created by Kenya Barris (“America’s Next Top Model”) and Hale Rothstein (“The Game”) will also debut in August.

Hulu will also offer seven series not previously available to U.S. audiences, including "Rev.," "The Yard," Pramface...

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Facebook Goes Public, Biggest Tech IPO in History

May, 18, 2012 7:03 am | Comments On #Facebook, IPO, Mark Zuckerberg, Media

Like it, share it, post it in the live stream -- Facebook is now a public company.

Getty Images

The social network's co-founder Mark Zuckerberg rang the Nasdaq opening bell from Facebook’s headquarters in Menlo Park, Calif., on Friday, officially kicking off the biggest tech initial public offering in history. 

After more than a year of pent-up anticipation and fevered speculation, Facebook priced its IPO at $38 a share, setting it up to raise $16 billion. The company's valuation is expected to rise to north of $100 billion. 

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Jane Lynch Tells Republicans: 'Money To be Made in Gay Marriage' (Video)

May, 17, 2012 7:51 am | Comments On #gay marriage, Jane Lynch, Media, MSNBC, Rachel Maddow, republicans

Jane Lynch has a message for Republicans and its all about dollars and cents. 

On "The Rachel Maddow Show" Wednesday night, the  "Glee" star said that the GOP should embrace gay marriage, as President Barack Obama did last week, not just because she believes it's the right thing to do, but because it offers an economic opportunity. 

"Now, I, Jane Lynch am not normally one to give career advice to Republicans, but guys and gals, there’s money to be made on promoting gay rights within the Republican party," Lynch said during Maddow's “Best New Thing in the World” segment.

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Facebook IPO: 5 Warning Signs That Have Investors Worried

May, 16, 2012 2:03 pm | Comments On #Facebook, IPO, Mark Zuckerberg, Media, Stock

Facebook is revving up for what many expect will one of the biggest initial public offerings in history, but many analysts believe that the company that revolutionized social networking will have a tough time maintaining its explosive growth.

"I can't predict the future, but I know the patterns of the past," Clive Thompson, a columnist for Wired, told TheWrap. "If you look at history, every major high tech company had its soaring moment in the sun and then fell apart when someone came along and thought of something that they couldn't imagine anyone would want to do."

For the present, of course, Facebook certainly does appear to be at its zenith. With a valuation of more than $100 billion and IPO shares expected to trade at between $34 to $38, Wall Street is breathlessly anticipating ringing the bell on the internet giant this Thursday....

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Los Angeles Times Shutting Down Magazine; Layoffs Expected

May, 15, 2012 3:20 pm | Comments On #layoffs, Los Angeles Times, magazine, Media

The Los Angeles Times is shutting down its Sunday magazine. 

Citing the downturn in the magazine industry, LA, Los Angeles Times Magazine will cease production on June 3, Times spokeswoman Nancy Sullivan told TheWrap. 

The closure will result in layoffs, Sullivan said, but she declined to say how many people would lose their jobs. 

In a letter to Times employees, obtained by TheWrap, COO Kathy Thomson thanked staff for their work on the publication, but implied that a changing economy prevented the magazine from continuing. 

Also read: ...

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