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Google-AP Partnership Fails to Yield Results - The deal that Google signed with the Associated Press a year ago, in Aug 2006, has yielded little result, reports IDG News Service. The then much-hyped deal was supposed to pave the way for Google to use original AP content in a broader manner. However, the expected services and features have not emerged yet. While confirming that the deal had not produced any results yet, Google spokesman Gabriel Stricker wrote this week that the search giant was “confident that [its] relationship with the AP will result in user benefit, but have nothing specific to announce at this time.”                     

Viacom Raises Digital Revenue Projection To Over $500 Million - Viacom will exceed its earlier projection of $500 million in digital revenue this year, CEO Philippe Dauman said during an earnings call Thursday.           

Google Algorithm Tweak Spurs Answers.com Traffic Slowdown - Traffic to Answers.com is down some 28%, according to a statement released by the site’s parent company, Answers Corp. The news highlights the struggle many Web properties face due to their dependence on Google for traffic, and consequently, revenue.          

Discovery Shows Move Online - Animal Planet’s “Meerkat Manor” debuts on the Web a week before its cable premiere, as Discovery begins offering free, ad-supported shows via Move Networks’ broadband player.             

Online Mags Draw Their Own Crowd: Study - On average 8 in 10 visitors to 23 large-circulation monthly magazines were consuming the magazine content online only, according to a new study from Nielsen//Net Ratings and Mediamark Research Inc.

Google’s Massive Wireless Push - Now that Google has upped the mobile wireless ante, the world is wondering whether the company plans to release an actual Google phone. The answer is yes, but not anytime soon. Indeed, the company is investing hundreds of millions in all kinds of cell phone research and development, including handset prototypes, although insiders say the models aren’t as impressive as Apple’s iPhone.             

Social Networks Come To Workplace - Facebook has expanded beyond its college roots since Mark Zuckerberg and company decided to open membership and software development to any and all comers. As a result, the social network’s fastest growing demographic is those over 25, many are working professionals using the site at their jobs. In fact, Reuters says there are already “thousands of business networks and communities” for them to choose from.                 

Facebook Rates Revised - Remember that Facebook rate card published by Valleywag earlier in the week? Well, those rates are from February–eons ago. The company’s June rate card was exactly twice what it was six months ago. While no one believes Facebook’s clients actually pay face value for sponsorships, multiply 150 group sponsorships by $300K and you get $180 million; that’s before both home page sponsorships and the $200 million three-year display deal with Microsoft.

Yahoo Revamps Yahoo Video - Yahoo has been getting killed in the Web 2.0 department, as rivals like Google and Facebook steal users and bring them to stickier social media and broadband video services. Yahoo needs to ramp up its social networking efforts through some kind of acquisition, but its online video division has also been badly in need of an overhaul.Now, Yahoo says its adding to Yahoo Video, bringing all of its broadband video content together under one roof.

Wikia Search Acquires Web Crawler - Jimmy Wales’ long-delayed open-source search product, Wikia, is coming into better focus. On Friday, Wales told a conference of software developers that his company had acquired Grub, a search crawler that will help power the wiki-based search engine. As part of Wikia, it will continue to be open to developers, but Wikia will absorb its brand name. Terms were not disclosed.

iCrossing Doubles Size With Proxicom Buy - More than doubling in size overnight from 200 to 550 employees, search-centric agency iCrossing has acquired Web development agency Proxicom for an undisclosed sum. It’s part of iCrossing’s plan to become a top full-service digital agency.           

Digitas Keeps Growing As Publicis Pulls In A China Shop - Further expanding its digital footprint worldwide, Publicis Groupe announced plans to acquire Communication Central Group, China’s largest independent interactive marketing agency, for an undisclosed sum. Upon closing, the privately owned CCG will be rebranded Digitas Greater China.

Disney Buys Club Penguin For Up to $700 Million - In addition to its financial results, Disney on Wednesday announced the acquisition of the popular “virtual world” Web site for kids — Club Penguin — to be renamed Disney’s Club Penguin.

Aegis Continues Isobar Roll-Up, Acquires Ion - London-based Aegis Group continues to expand its burgeoning Isobar network - already the world’s largest digital advertising services group - announcing the acquisition of Ion Global, a digital marketing shop with offices in Seoul, Korea; San Francisco and Hong Kong, for about $1 million. Each of Ion’s three operations has developed different capabilities, which will each be integrated into an existing regional Isobar operation.

Cityfeet.com (New York, NY) Acquired by LoopNet - Cityfeet.com was acquired by LoopNet (Nasdaq: LOOP) on August 2, 2007 for $15 million in cash. The company provides an online commercial real estate network for real estate property owners and brokers to tenants, brokers, and investors. Previous investors in the company were Scripps Ventures and New York Times Digital.

HandHeld Entertainment has acquired eBaumsWorld.com for $17.5 million - HandHeld Entertainment is acquiring user-generated joke image and video site eBaum’s World for USD15m in cash up front, and a further USD37.5m in cash and stock over a three-year period. eBaum’s World has been in operation for almost a decade and has become an internet icon of male-focused ‘college humour’. Named after founder Eric Bauman, the site is estimated to have made USD1.6m net on USD5.2m in revenues for 2006.

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