[Directed by Court Dunn]
Tour Bus Performance
via CBS
Ann Arbor, MI -based bookseller Borders Group, reorganizing under Chapter 11 bankruptcy protection since February, has agreed to be purchased by Phoenix-based Najafi Cos.
The reported sale price is 215 million dollars, with Najafi assuming another 220 million dollars in debt.
Najafi owns the Book-of-the-Month Club, Doubleday Book Clubs and Columbia House.
The tentative agreement is known as a “stalking horse” bid, meaning a higher bid is possible at auction. A federal bankruptcy judge has set a hearing date of July 21. Borders filed a motion to liquidate if the court does not approve an auction.
Borders, headquartered in Ann Arbor, began as a single store in 1971 and has grown to become the country’s second-largest brick-and-mortar bookseller after Barnes and Noble.
Borders has closed hundreds of stores since declaring bankruptcy and now operates about 400 outlets.
Kitti Kouture
32-25-43, Black, Indian, German and Filipino model from Columbia, SC,
News Corp. (NWSA) agreed to sell Myspace to Specific Media Inc. for a fraction of what it paid six years ago, ending its efforts to turn around the money-losing social networking business.
News Corp. will receive $35 million, including a 5 percent stake in Specific Media, according to a person with knowledge of the situation who wasn’t authorized to speak publicly. Specific Media announced the sale in a statement today, without providing the terms.
The accord rids News Corp. Chairman and Chief Executive Officer Rupert Murdoch of a website that lost its lead in social networking to Facebook Inc. after being acquired in 2005 in a $580 million deal. The company had sought about $100 million for Myspace after Chief Operating Officer Chase Carey said in February he wanted a deal completed by the June 30 end of the parent company’s fiscal year.
All those shoes Nike sold underscore the strength of James’ brand. Despite turning much of America against him after his controversial Decision to team up with Dwyane Wade and Chris Bosh in Miami, James remains a endorsement giant.
In April, the NBA announced James’ Heat jersey was the top seller at NBAStore.com for the 2010-2011 season. A month later, James rose to the 10th spot in Forbes’ “Celebrity 100” ranking, the highest position on the list of any basketball player and second only to Tiger Woods among athletes.
James’ marketing might figures to only get stronger as Nike expands its position in China, the world’s fastest-growing consumer base.
spotted: RollingStone
A black and red leather jacket worn by Michael Jackson in the music video for “Thriller” sold for $1.8 million at an auction in Los Angeles on Saturday, two years after the singer’s death.
The buyer, a Texan gold trader named Milton Verret, says he plans to use the iconic jacket to raise money for children’s hospitals around the world. Verret already has plans to display the jacket at the Dell Children’s Hospital in Austin, Texas.
Two versions of the jacket were made for the video. This version, with winged shoulders, was autographed by the late singer. Another version, which is scuffed from more intensive wear, is owned by the Michael Jackson estate.
Go Dumb Boyz Video I can’t sleep from album “The Detroit Way”
“MJ gone, My n*gga Dead”
–Kanye West
On this date in 2009, American singer Michael Jackson died of acute propofol intoxication after he suffered cardiac arrest at his home in the Holmby Hills neighborhood in Los Angeles, California. Michael Jackson was the greatest and most successful entertainer of all time, often referred to as “The King of Pop” His legacy will live forever through his music.
R.I.P. MJ
for more on Michael Jackson log on to: www.michaeljackson.com
produced by Nasty New & Chris Bars (Supa Block Productions)
spotted: HuffingtonPost
Google recently released its list of the top 1,000 sites on the web.
The sites are ranked in terms of unique viewers, based on data gathered by DoubleClick Ad Planner. Google explains how this advertising service determines a website’s weight: “DoubleClick Ad Planner combines information from a variety of sources including anonymized, aggregated Google Toolbar data from users who have opted in to enhanced features, publisher opt-in anonymous Google Analytics data, opt-in external consumer panel data, and other third-party market research.”
The top 1,000 list is far from definitive, though. Google has left off specific kinds of websites, such as “adult sites, ad networks, domains that don’t have publicly visible content or don’t load properly, and certain Google sites.” So if you’re wondering why Google.com, for example, doesn’t appear anywhere on the list, that’s why.
Private-equity firms KKR & Co. and Silver Lake Partners, along with a third investor, are nearing a deal to buy GoDaddy Group Inc., the closely-held company that registers Internet domain names, for between $2 billion and $2.5 billion, according to sources.
An announcement of the sale could come as early as next week, although a deal hasn’t been signed yet and the people cautioned that an agreement may not be reached.
Private equity and venture capital firm Technology Crossover Ventures is also a minority investor in the proposed deal for Scottsdale, Ariz.-based GoDaddy, one of the people familiar with the matter said.
The Wall Street Journal reported in September that the company had hired boutique investment bank Qatalyst Partners to shop the company to potential buyers.
GoDaddy.com, the company’s flagship web property, is the world’s largest registrar of domain names. The site also sells e-commerce, security and other services to people and businesses looking to manage their online presence. Customers pay GoDaddy monthly fees, which brings the company steady cash flow — an attraction for buyout firms.
GoDaddy was founded in 1997 by Bob Parsons, who continues to be the company’s owner and chief executive. It is known for its edgy advertising, including Super Bowl commercials and ads featuring different “Go Daddy Girls” including racing car driver Danica Patrick. Mr. Parsons would continue to be CEO, one of the people familiar said.
The sale process for the company was temporarily scuttled late last year when some potential bidders, including private-equity firms TPG Capital and General Atlantic, were told the auction was off, people familiar with the matter said at the time.
Read more: WSJ
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