Google Buys DoubleClick for $3.1 Billion

Google reached an agreement today to acquire DoubleClick, the online advertising company, from two private equity firms for $3.1 billion in cash, the companies announced, an amount that was almost double the $1.65 billion in stock that Google paid for YouTube late last year. The sale offers Google access to DoubleClick’s advertisement software and, more importantly, its relationships with Web publishers, advertisers and advertising agencies

$15 Sneaker

Knicks point guard Stephon Marbury is awesome, he’s turning down endorsement deals and bring a $15 basketball shoe to market. If you’ve ever wondered why basketball shoes were so expensive, the answer is — because they can be. It’s an interesting culture hack, and parents/kids who can’t afford $150+ for pricey shoes can still hit the court

Jury Awards Procter and Gamble $19 Million Over Devil Worship Rumours

Four Amway distributors have been ordered to pay Proctor and Gamble over $19 million in compensation. The four had spread rumours that the company was involved in Satanism, and the case has dragged on for over a decade. The judge had earlier decided that Amway itself could not be held responsible for the actions of its self-employed distributors — via The Pagan Prattle

Viacom Will Sue YouTube for $1 Billion

Viacom says it will sue Google and YouTube for US$1 billion. Viacom, which owns MTV and Nickelodeon, says YouTube uses its shows illegally. Viacom alleges that about 160,000 unauthorised clips of its programmes have been loaded onto YouTube’s site and viewed more than 1.5 billion times. Google says it is confident that YouTube has respected the legal rights of copyright holders

BBC Strikes Google-YouTube Deal

The BBC has struck a content deal with YouTube, the web’s most popular video sharing website, owned by Google. Three YouTube channels — one for news and two for entertainment — will showcase short clips of BBC content. The BBC hopes that the deal will help it reach YouTube’s monthly audience of more than 70 million users and drive extra traffic to its own website. The corporation will also get a share of the advertising revenue generated by traffic to the new YouTube channels

Adobe to Take Photoshop Online

Hoping to get a jump on Google and other competitors, Adobe plans to release a hosted version of its popular Photoshop image-editing application within six months. The online service is part of a larger move to introduce ad-supported online services to complement its existing products and broaden the company reach into the consumer market

Google Prepares a Presentation Tool

I’m sure many people wondered if Google will release a presentation tool, after building Google Docs&Spreadsheets. Well, the answer is yes, and the code-name of the tool is Presently (a play on Writely, the name of the online word processor bought by Google). You will be able to convert a document into a presentation, create slides and view the presentation in full-screen

Retail Giant TJX Discloses Massive Data Breach

Banks and credit card companies are rushing to notify their customers to keep an eye out for fraudulent activity on their accounts after several retailers discovered thefts of customer data from their computer systems. TJX, the parent company of Marshalls, TJ Maxx, and several other national chains, said hackers breached a system that handles credit card, debit card, and check transactions in the United States and Puerto Rico. The company also said there is a possibility the breach is as far-reaching as the United Kingdom and Ireland

Google Patches Gmail Spammer Bug

Google has quickly fixed a flaw that reportedly exposed the contact lists of Gmail users to spammers, giving them, at least in theory, a new source of e-mail addresses for hawking their wares. When users access Gmail, Google’s Web-based e-mail service, their contact lists are stored in a JavaScript file on their hard drives. Before the flaw was patched, a malicious Web site could have read that file, extracting the list of contacts, then sending that data to spammers

TNZ puts AAPT on Sale Again

Telecom New Zealand is making a further attempt to offload its struggling Australian business AAPT, opening talks with a number of junior telcos less than six months after failing to find a buyer for around $450 million. TNZ is now believed to be in talks with NSW-based Soul — which is controlled by WH Soul Pattison — about selling its retail fixed-line business, the fourth biggest in the country. AAPT is also in separate talks with infrastructure player Powertel — which holds a 19 per cent stake in Perth-based broadband company iiNet — to build a credible third force in broadband internet services