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New York Times Co. to sell About.com to Barry Diller's IAC

The New York Times Co. is expected to announce soon that it has reached a deal to sell the About Group, which includes Web site About.com, to Barry Diller's InterActiveCorp, a source with knowledge of the deal told CNET.

IAC is expected to pay $300 million in cash for the struggling information site, with the deal closing in the next couple of weeks, the New York Times Co. confirmed in a statement late Sunday.

"About's early expertise in search engine optimization, expert content and revenues from cost-per-click and display advertising made it a valuable component of … Read more

Diller's Aereo Web TV countersues broadcasters

Well, it certainly didn't take long for Barry Diller to follow through with his promise to go after the broadcasters.

Aereo, an online video service owned by Diller and his IAC/InterActive Corp., has filed a countersuit against the broadcasters who have taken aim at his new venture, according to a report from Reuters. The suit declares that Aereo does not infringe on the broadcasters' copyrights.

Aereo was hit with suits earlier this from nearly every major TV broadcaster in New York. The Internet TV service, which was scheduled to launch March 14, intended to take shows freely available … Read more

This Day in Tech: Google Wallet and Offers, Amazon opens Mac download stores

Too busy to keep up with the tech news? Here are some of the more interesting stories from CNET for Thursday, May 26.

Google Wallet, Offers make their debut Services combine coupons, discounts, and payments at the time people buy things through their phone. Trials start now, with full launch this summer. More

Amazon opens up Mac downloads stores The e-commerce heavyweight launches a pair of online venues targeting Mac users with digital downloads. So far Amazon's stocking about 250 games and apps. More

Senate panel gives OK to antipiracy bill The Protect IP Act makes it through the … Read more

More Net giants deal in shady drug ads

Microsoft, Yahoo, and InterActiveCorp have accepted advertisements for overseas pharmacies that sell drugs to U.S. customers without requiring prescriptions, a practice that made Google the target of a federal criminal probe, CNET has learned.

An offshore pharmacy called GoMedStore.com, which advertised on Yahoo and Microsoft's Bing.com Web site this week and appears to be based in Vietnam, boasts that it ships pills "from our India facility" in unmarked packages designed to clear U.S. Customs without raising suspicions. "Nobody will know what is inside the package," the Web site says.

Another, the … Read more

Diller on tech bubble: 'We're puffing it up pretty nicely'

AUSTIN, Texas--Is there a little bit of madness to the sky-high tech company valuations that are all over the place right now? Yes, says IAC founder and former entertainment mogul Barry Diller, who gave a talk at the South by Southwest Interactive Festival (SXSW) this morning to provide a bit of blunt, curmudgeonly insight for a conference best-known as a hub of the young, wide-eyed, and exuberant.

It was one of Diller's first high-profile appearances since he stepped down as the CEO of IAC in December; he remains chairman.

So is there a tech bubble, as evidenced by the … Read more

Latest Ask.com revamp all about answers

OAKLAND, Calif.--It's fairly rare in 2010 to walk into a technology company where the first thing presented to visitors is a whiteboard covered in multicolor Post-It notes.

But that's exactly what lies just beyond the receptionist's desk at Ask.com, the venerable yet beleaguered Internet company in the middle of yet another strategy shift. The sticky notes are actually part of the company's product-development workflow, giving everyone a visual representation of the number of balls in the air at any given time, not just those logged into the project management software.

Doug Leeds, president of … Read more

IAC shakeup: Diller steps down; Liberty buys out

Barry Diller, the former entertainment mogul who set out to reinvent himself as a digital-media baron in the past decade with his New York-based IAC/InterActiveCorp conglomerate, has stepped down from his post as CEO of the holdings company.

In addition, one of IAC's largest shareholders, cable company Liberty Media, has fully bought out of the conglomerate, giving up its shares of IAC in return for $220 million in cash and the IAC subsidiary that includes Gifts.com and Evite. The transaction was completed yesterday.

Diller will remain chairman and senior executive of IAC, while the current CEO of … Read more

Buzz Out Loud 1348: Call of Duty: Black Socks (podcast)

Amazon comes up with the best idea ever for converting terrible gifts to good gifts -- before they even get to your doorstep. Take that, Aunt Mildred! Also, RockMelt stands us up, so we demand 50 more invites (which seems counterintuitive, I know). Also, Glassgate hits case-makers, goodbye to Ask.com, and what social networks are doing with all those email addresses, anyway! --Molly

IAC bows to Google, kills search at Ask.com

Add another name to the list of technology departments destroyed by Google.

IAC, the parent company of storied search engine Ask.com, has decided to cut 130 engineering jobs and halt all work on developing an algorithmic search competitor to Google, according to a report from Bloomberg. Ask.com will still operate as a questions-and-answers site, but plans to use search technology from another company--not named in the report--to power search on its site.

An Ask.com representative confirmed the news and issued a statement.

"Today's move is a reflection of our shift in strategy to focus on … Read more

Asked about selling search, Barry Diller says yes

Ask.com could be on the block, judging by the comments of the CEO of its parent company.

Reuters reported on IAC's third-quarter earnings conference call Tuesday, where CEO Barry Diller all but opened the bidding for the struggling search engine. Despite a novel promotional deal with Nascar, Ask.com has failed to make much headway against the great powers of search in Google, Yahoo, and Microsoft.

"We've been asked a lot whether we're open to consolidating transactions in the area of search. The answer is yes," Diller was quoted by Reuters as saying. "… Read more

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