--(www.USEquityNews.com)-- 07/01/2008 - Internet Information Provider industry alert provided by U.S. Equity News. Television and radio station operator CBS Corp. said it completed its acquisition of Web site operator CNet Networks Inc. (NasdaqGS: CNET) CBS paid $11.50 apiece for San Francisco-based CNet, which provides technology, food and entertainment information through its CNet.com Web site and other consumer information sites. CBS shares fell 12 cents to $19.64 in afternoon trading.
Shares of travel Web site operator Expedia Inc. (NASDAQ: EXPE) fell to an annual low Monday after a Citi Investment Research analyst took the stock off his top picks list, preferring shares of Google Inc. Mark Mahaney said the outlook for the search industry is strong because advertisers believe Web search ads offer the best return on their investment. But he thinks Expedia is vulnerable to weakening economic trends in, and decreasing travel to, Europe. He placed Google at the top of his Top Picks Live list, and removed Expedia from that portfolio.
Yahoo Inc. (NASDAQ: YHOO) spent $630,000 in the first quarter lobbying on intellectual property and international censorship issues, according to a disclosure report. The Sunnyvale, Calif.-based company lobbied on a bill, the Global Online Freedom Act, which places a range of restrictions on Internet companies when they operate in countries that censor the Web, such as China. Yahoo set off a controversy in 2005 by cooperating with Chinese authorities in an investigation of two dissident journalists. The company provided the Chinese government information about the online activities of the journalists, who were each sentenced to 10-year prison terms for allegedly leaking state secrets and political writings.
SmallCapVoice.com, Inc. announced that a new audio interview featuring, Elysium Internet Chairman and Chief Executive Officer Scott Gallagher of Elysium Internet, Inc. (OTCBB: USBF) is now available at SmallCapVoice.com. The interview can be heard at http://www.smallcapvoice.com/usbf/usbf-6-10-08.php. Elysium Internet CEO Scott Gallagher commented, "In only a few short months since going public we have acquired some of the best Internet real estate in our space. Our first two directories are showing up on page one of the organic listings at Yahoo, MSN.com and Google. The Internet ad space is growing at a record pace. We look forward to the coming launch of Pediatricians.com, Psychiatrists.com and Podiatrists.com to further expand our customer and revenue base and we welcome the opportunity to communicate our business strategy to web sites such as www.SmallCapVoice.com."
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