Today in Tech: Groupon's investors give upAugust 20, 2012: 1:29 PM ET
Inside Hulu's network drama; video game streaming company OnLive restructures.
Taiwanese smartphone maker HTC said on Monday it will have to book a US$40 million loss from its investment in U.S. cloud gaming service OnLive, which is restructuring after nearly going bankrupt. HTC announced the investment loss in a Taiwan Stock Exchange filing, stating that OnLive completed an asset restructuring during this past weekend because of a "lack of operating cash and an inability to raise new capital." The company declined to elaborate on its investment.
There has also been a lot of downtime. As a result, there has been quite an opportunity for those in the court to familiarize themselves with both their surroundings and the main voices in the trial.
Hulu's network drama [VARIETY]
Hulu's owners should be crowing about their spectacular success. Instead, they are bickering bitterly, casting the firm's future into doubt. TV is changing faster than at any time since the introduction of cable. Hulu's predicament shows just how knotted things have become for media companies trying to profit online.
Groupon investors give up [THE WALL STREET JOURNAL]
At least four Groupon investors who held stock in the daily-deals company before it went public have sold or significantly pared back their holdings in recent months. Since its initial public offering in November, Groupon has shed more than three-quarters of its stock-market value, or about $10 billion.
The new CEO, Hubert Joly, was chief executive of hospitality and restaurant giant Carlson—which includes businesses such as Radisson and T.G.I. Friday's—before he stepped down Sunday for the Best Buy job. Carlson announced that the board had selected its chief financial officer, Trudy Rautio to take his place.