Internet/Media Stocks News/Analysis In Brief (GOOG, L, PRVD, SSP)

Includes: GOOG, PRVD, SSP
  • GOOG: A Google-Apple alliance? That's what Carl Howe thinks. His thesis is probably more impactful for consumer electronics manufacturers' stocks than for Google itself.
  • L, PRVD: Liberty Media announced Monday that it was acquiring food-and-flowers e-tailer Provide Commerce for $477 million. You can read Internet Stock Blog articles about Provide here. Liberty is acquiring Provide for $33.75 per share; the previous trading day the stock had closed at $30.23. Liberty CEO John Malone was quoted in the press release saying "We believe in the power of video to drive television and web-based retailing businesses and Provide is a compelling addition to our strategy." Quick comment: The key takeaway for Internet companies? The list of acquirers just grew again, and not just for content providers. Liberty, a content company which already owns QVC and a majority stake in IAC, acquired an e-commerce company.
  • SSP: Diversified media outfit E.W. Scripps lowered guidance, but stated that Shopzilla, the comparison shopping Internet business it purchased earlier this year, would beat expectations. Analysis of Shopzilla here.