Gartner pegs worldwide social media revenues at $10.3 billion in 2011 and forecast $14.9 billion in 2012

Yahoo! and ABC News form video content alliance
Yahoo! and ABC News formed an alliance that will allow video content of ABC news to be shown of Yahoo. "Newsmakers," an original interview series, kicks off today when "Good Morning America" anchor George Stephanopoulos interviews President Obama live at the White House at 2:35 p.m. ET. The entire interview will stream live on Yahoo.com and ABCNews.com. Yahoo! News and ABC News reach a combined audience of more than 100 million people in the US each month.

"Yahoo! is committed to building the richest set of premium and personalized content experiences for our users. Our deep collaboration w

Kodak denies intentions to file for bankruptcy
Eastman Kodak has said that it is not planning to file for bankruptcy. It released a statement in response to rumors circulating in the capital markets. The statement said, “Kodak is committed to meeting all of its obligations and has no intention of filing for bankruptcy. The company also continues to actively pursue its previously announced strategy to monetize its digital imaging patent portfolio. Kodak remains focused on meeting its commitments to customers and suppliers, and on delivering on its strategy to become a profitable, sustainable digital company.

It added, “It is not unusual

Adfactors PR launches new vertical for media, entertainment, consumer and lifestyle
Adfactors PR is launching two new practices to cater to the media & entertainment, and Consumer & lifestyle sectors. The Media & Entertainment will be headed by Pavan R Chawla, and Amitesh Banerjee will head the Consumer & Lifestyle practice.

Madan Bahal, Managing Director Adfactors PR Pvt Ltd, said, “We are pleased to announce the launch of two new practices. These are a part of our initiative to widen our service offerings and make the consultancy more relevant to the larger PR market. Both verticals are specialist units created to fill gaps in the marketplace. Our principal differentiato

Google TV to be launched in Europe this year, says Eric Schmidt, Google’s chairman
Eric Schmidt, Google’s chairman said that Google TV could create "more value for all" and could spark new innovation for television in the same way that smartphones did for the internet. He was delivering keynote Mactaggart lecture at the Edinburgh International Television Festival. He told the delegates that Google plans to start its online television service in Europe early next year with UK being the first makrket. Google TV was launched in the US last year but top four major networks, ABC, CBS, NBC, and Viacom had blocked content from their websites appearing on the service.

Bloomberg to acquire leading legal information company BNA for US$ 990 million
Bloomberg and The Bureau of National Affairs, Inc. (BNA) have announced that they have entered into an agreement under which Bloomberg will acquire all 25,116,830 outstanding shares of BNA for $39.50 per share in cash for a total purchase price of approximately $990 million. The boards of directors of both companies have unanimously approved this transaction, which is expected to close later in 2011. Bloomberg Law competes with the Westlaw legal database of Thomson Reuters and with Reed Elsevier's LexisNexis.

Govt owned broadcasting corporation Prasar Bharti to mop up RS. 46 crore from e-auction for its DTH Platform
Prasar Bharti, has decided to allow slots on DD Direct Plus DTH Platform to private channels via e-auction route. The purpose of the e-auction was to select the channels on DD Direct Plus Platform in a transparent and objective manner. Conducted through e-tender process, the entire mechanism was facilitated by M/s NCDEX SPOT Mumbai, the agency selected for conducting the proceedings.

Through the auction, 21 successful bids have been received ranging from Rs 2.17 crore to Rs 2.25 crore. All 21 vacant slots on DD’s DTH platform have been auctioned through this transparent e-auction process.