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Yahoo agrees to sell back half of Alibaba stake in $7B deal

yahoo-alibaba-deal

Yahoo and Alibaba have finally hashed out terms that will see Yahoo sell back half of its stake in the Chinese e-commerce site in a $7 billion deal, according to an AllThingsD report.

Yahoo will sell half of its 40 percent stake, and with Alibaba valued at $35 billion, the value of Yahoo’s holdings are worth around $7 billion. The taxable Yahoo-Alibaba deal has reportedly been cleared by Yahoo’s board. After taxes and fees, Yahoo should end up clearing about $4 billion.

Both Yahoo and Alibaba have been bickering over the terms of their relationship for years, so it only makes sense for Yahoo to finally give up a portion of its stake in the company. And Yahoo seriously needs cash to help it come up with new direction and new products, especially in light of the company losing CEO Scott Thompson recently in an embarrassing resume-padding scandal.

Photo credit: Flickr/Yahoo

Filed under: VentureBeat



Fall Sneak Peek: Watch the First Promo For Fox’s New Comedy Ben and Kate

The current TV season isn’t over yet but that isn’t stopping Fox from revving up its fall premiere buzz machine now.

Case in point: Tonight, the network is poised to unveil the first promo for its new Tuesday-night comedy Ben and Kate, and we’ve got your exclusive first look at the 30-second spot.

PHOTOS & VIDEO: Fall Preview — Your Guide to What’s New

The sitcom, which will air at 8:30/7:30c as a lead-in to New Girl, revolves around an uptight single mom (played by Dakota Johnson) whose aimless brother (Nat Faxon) moves in to help raise her daughter (Maggie Jones).

Press PLAY below and then hit the comments with an answer to this question: Based on this promo (and the full-length trailer), are you inclined to spend 30 minutes with Ben and Kate next season?

Gaming art for your Facebook Timeline (Part 1: The Modern Era)

Facebook timeline covers

Facebook’s Timeline lets you place an image at the top of your profile. Sure, you could add a crummy, awkwardly cropped family photo — or you can use a kick-ass cover from your favorite video game.

We’re releasing seven days’ worth of artwork, each with a different theme, that you can use to decorate your Facebook profile:

  • Sunday: The Modern Era (today)
  • Monday: Modern/Retro
  • Tuesday: The Indies
  • Wednesday: 8/16-bit
  • Thursday: Social & Mobile
  • Friday: Arcade
  • Saturday: Future Games

Today’s batch of covers features 10 titles from the current generation of games. Click on the thumbnails to enlarge the pictures, then right-click them and hit “save image as” to save to your computer.


Timeline cover thumb Asura's Wrath
Asura’s Wrath


Timeline cover thumb Battlefield 3
Battlefield 3


Timeline cover thumb Rayman Origins
Rayman Origins


Timeline cover thumb Killzone 3
Killzone 3


Timeline cover thumb Dead Space 2
Dead Space 2


Timeline cover thumb Halo Reach
Halo: Reach


Timeline cover thumb Red Dead Redemption
Red Dead Redemption


Timeline cover thumb Final Fantasy XIII
Final Fantasy XIII


Timeline cover thumb Mirror's Edge
Mirror’s Edge


Timeline cover thumb inFAMOUS
Infamous


Check back tomorrow for more Timeline covers.

Filed under: games



Bee Gees’ Robin Gibb Dead at 62

Robin Gibb | Photo Credits: Chris Jackson/Getty Images

Robin Gibb, the co-founder of the Bee Gees, died Sunday after a long battle with cancer, Rolling Stone reports. He was 62.

“The family of Robin Gibb, of the Bee Gees, announce with great sadness that Robin passed away today following his…

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Nasdaq admits screwing up early Facebook IPO trading

facebook-nasdaq

Nasdaq chief exec Robert Greifeld admitted Sunday that the exchange was at fault for some glitches in early trading of Facebook’s IPO but said it had nothing to do with the stock’s uninspired performance.

Social networking service Facebook went public Friday with the largest tech IPO in history. Facebook expected trading to begin at 11 a.m. ET, but it did not begin until about 11:30 a.m. The stock did not “pop” in early trading and ended up disappointing many analysts and social media enthusiasts by closing 9.5 percent down from its $42 opening price and just barely above its $38 original IPO price.

Greifeld told a handful of reporters Sunday that the Nasdaq’s systems got backed up because there were quite a few order cancellations that came in late in the IPO process. In turn, the entire system was backed up and did not let some traders know their orders went through until after 2:30 p.m., according to the New York Times.

The New York Times reports Greifeld said the exchange was “humbly embarrassed” about the delay in confirmations, but that it was not responsible for losses incurred by trading. Charlie Gasparino at Fox Business says angry traders are demanding that Nasdaq repay them for “$100 million or possibly more.”

At the least, the SEC plans to look into the Nasdaq trading debacle.

Read more about Facebook:

Filed under: social



The Avengers Sinks Battleship and The Dictator at the Box Office

Battleship | Photo Credits: Battleship Productions

The Avengers continued to hold onto the top spot at the box office, sinking three major new releases in the process.

The Avengers grossed an estimated $55 million in its third week of release, Box Office Mojo reports. The expensive action film Battleship, starring Taylor Kitsch and Rihanna, plundered just…

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Terminator 3’s Nick Stahl Enters Rehab, Wife Says

Nick Stahl | Photo Credits: Barry King/FilmMagic

After disappearing for more than week, Nick Stahl resurfaced and checked himself into rehab Saturday night, his wife Rose tells…

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Microsoft silently launches So.cl, its attempt at a social networking site

microsoft-socl

Microsoft has officially launched an “experimental” social networking site called So.cl, which combines facets of social networking, search, and media sharing with a user interface resembling Google+.

When we last heard about it, So.cl (pronounced “Social”) was being billed as an “experimental research project” and was only available to students studying information and design at the University of Washington, Syracuse University, and New York University. While the project is still billed as experimental, it’s now open to anyone who wants to give it a shot.

To get access to So.cl, you sign up using your Facebook or Windows Live ID. When you sign in for the first time, the site describes the experience as such:

So.cl is an experiment in open search. That means your searches on So.cl are viewable by other So.cl users and will also be available to third parties.

So.cl does not automatically post your searches, comments, or likes to your Facebook stream unless you choose this option. Also, we don’t contact your Facebook friends unless you invite them.

After logging in you’ll notice the layout closely resembles Google+’s layout, but it also takes ideas from Facebook, Twitter, and Pinterest. You can follow other So.cl users or follow interests like food, art, or movies. There’s also a “bookmarklet” feature that adds a “Share on So.cl” button to your bookmark bar so you can share content anywhere around the web with other So.cl users. Additionally, So.cl naturally appears to have close ties with Bing’s recently revamped social search.

Looking at the “Everyone” feed, it’s easy to see what all So.cl users are searching for and sharing with the world. But alas, one of the biggest problems with “social search” is that we don’t always want to see what everyone else is searching for:

socl-porn

You can read more about So.cl at the site’s FAQ page. Let us know in the comments what you think of it.

Filed under: social



Disney XD’s Pair of Kings Set For June 18 Return With New Cast Member Adam Hicks

Pair of Kings | Photo Credits: Jaimie Trueblood/Disney XD

There’s a shake-up coming on the island of Kinkow when the third season of the Disney XD comedy series Pair of Kings begins next month. There’s still a pair goofy, goodhearted teenagers haplessly ruling the mysterious island, but with a….

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Pakistan blocks Twitter over ‘blasphemous’ Muhammad drawings

twitter-blocked-pakistan

Social networking service Twitter has been blocked in Pakistan after the site refused to remove tweets concerning “blasphemous” Muhammad cartoons, according to Pakistan’s Express Tribune.

Twitter was targeted by the Pakistani government after some users organized a competition for people to draw the Prophet Mohammed, something that many Muslims consider blasphemous. Pakistan reportedly asked Twitter officials to stop tweets about the Prophet Muhammad, but “Twitter refused our request,” Pakistan Telecommunication Authority (PTA) Chairman Mohammad Yaseen told the Express Tribune. Yaseen said that once Twitter removes the offending tweets, Twitter will be unblocked.

The Associated Press reports that Facebook complied with Pakistan’s requests about the competition. Facebook site was banned briefly in Pakistan about two years ago for refusing to remove a similar user-created contest. After two weeks, it eventually complied and removed the offending content.

A Pakistani government official claimed yesterday (on Twitter!) that Facebook and Twitter would not be blocked, saying, “Dear all, I assure u that Twitter and FB will continue in our country and it will not be blocked. Pl do not believe in rumors.”

Ali Dayan Hasan, the Pakistan director at Human Rights Watch, criticized the move to block Twitter, saying it hindered users’ right to free speech.

“The government of Pakistan’s ban on Twitter is ill-advised, counterproductive and will ultimately prove to be futile as all such attempts at censorship have proved to be,” Hasan said, in a statement. “The right to free speech is nonnegotiable, and if Pakistan is the rights-respecting democracy it claims to be, this ban must be lifted forthwith. Free speech can and should only be countered with free speech.”

Officials from Twitter and Facebook did not immediately respond to us with request for comment about the ongoing event.

Photo credit: Andreas Eldh/Flickr

Filed under: social



Facebook Founder Mark Zuckerberg Marries Longtime Girlfriend

Mark Zuckerberg | Photo Credits: KIMIHIRO HOSHINO/AFP/Getty Images

Mark Zuckerberg‘s relationship status has changed.

One day after taking Facebook public, the company’s founder married his girlfriend, Priscilla Chan, Saturday in Palo Alto, Calif., People reports.

The intimate backyard ceremony was a surprise to the less than…

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In Pictures: Cannes Day 2

In Pictures: Cannes Day 2

Marion Cotillard, Rust & Bone premiere

The Rust & Bone photocall and premiere were the main events for the second day at Cannes. The gallery below features the stars at the photocall and then the evening’s premiere where Marion Cotillard led her cast down the red carpet.{Cannes 2012 Day 2}



SNL Sends Off Kristen Wiig: What Will the Show Do Without Her?

Kristen Wiig | Photo Credits: Rabbani and Solimene Photography/Getty Images

Mick Jagger may have been the host and the musical guest for Saturday Night Live‘s season finale, but the show belonged to Kristen Wiig, who, after seven years, is leaving the show.

And the final episode was proof of just how much star power the show’s losing. For the night’s final sketch, Wiig and other cast members posed as…

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SNL With Mick Jagger (and a Farewell to Kristen Wiig): Best and Worst Skits?

Kristen Wiig got an emotional send-off as she made her final curtain call during the season finale of Saturday Night Live. It’s just too bad that the episode as a whole didn’t provide a funnier last impression for the fabulous comedienne, Oscar-nominated earlier this year for her excellent Bridesmaids screenplay.

It didn’t help, of course, that host Mick Jagger struggled mightily from tepid opening monologue to a final sketch, where his attempt to pull off a “California” accent was so strained, the Rolling Stones frontman appeared to be on the brink of an aneyurism. And Jagger didn’t fare much better with his other impressions: A ’60s movie tough guy with a garishly fey center, a musically inhibited insurance salesman, and (least successful of all) Aerosmith’s Steven Tyler.

Also curious: If, as rumored, the Season 37 finale was the swan song for Wiig’s comrades Jason Sudeikis and Andy Samberg, how come no special sendoff for them? Ah well, we’ll always have “Lazy Sunday: 2.”

Below, my picks for best and worst sketches:

Best: Lazy Sunday 2
Let me not give away too much about this genius rap collaboration/sequel starring Samberg and Chris Parnell. I’ll just say I was howling from start to finish at this digital short, with doubly big guffaws at references to John Wilkes Booth, Raven Symone, and Channing Tatum. An instant classic? Yes!

Best: Lawrence Welk Cold Open
I’ve never been the biggest fan of Wiig’s creepy, babydoll-handed singing sister, but I’ll admit I got some hearty giggles watching her interact (hideously) with a urinating statue, then win the heart of Jon Hamm’s Gianni Prosciutto.

Honorable Mention: Stefon
Not Stefon’s finest Weekend Update appearance, but Bill Hader’s absurdly gay city correspondent definitely wins the award for the night’s best line: “For the kids, a special workshop where you can build a bear…but not the kind you think.”

Just in Case You Missed It: Kristen Wiig’s Emotional Sendoff
Awwww.

Worst: Politics Nation With Al Sharpton
Either Kenan Thompson’s impersonation of the Rev. Al needs sharpening, or those punch lines involving teleprompter misreadings and mispronunciations need a total overhaul. Because hearing Thompson introduce himself as “Al Sharpton lettuce,” then correcting himself to say “let us talk about what’s goin’ on on Wall Street” just isn’t gonna cut it.

Worst: So You Think You Can Dance at an Outdoor Music Festival
This sketch had its moments — particularly Taran Killam as a guy on mushrooms, “dancing with a garbage bag he found,” but mostly it felt like a failed opportunity to capitalize on a very clever idea. Why not let one of the female cast members break out a Cat Deeley or Mary Murphy impression, thus making the sketch as much a commentary on the SYTYCD mothership as it was on scrubby festival hoofers? And oh how Jagger’s Steven Tyler brought this one to a screeching halt every time he spoke.

What did you think of this week’s SNL? How did Jagger fare as host? And what did you think of Wiig’s sendoff? Will you miss her? Sound off in the comments!

New Fund AngelWorld To Back ‘The Big Shoe’ With Susan Sarandon, Jim Sturgess

(Cannes) May 20, 2012 – AngelWorld Entertainment (AWE), who on Saturday announced the launch of their $150m equity fund, will finance and produce The Big Shoe, a sexy comedic drama directed by Steven Shainberg (Secretary), from a script by Shainberg and Mickey Birnbaum. The film will star Jim Sturgess (One Day, Across the Universe) and Academy Award Winner Susan Sarandon (Dead Man Walking, Robot & Frank, The Snitch), who can next be seen together in Tom Tykwer, Andy and Lana Wachowski’s Cloud Atlas. Andrew Lazar’s Mad Chance Productions will produce alongside AngelWorld Entertainment’s Darby Angel. HanWay Films will be handling international sales while CAA will represent the North American rights.

With filming set to begin in fall 2012, The Big Shoe follows Nate (Sturgess), a gifted shoe designer forced to break free from a family who want to cheapen his art for their own commercial gain. Overbearing mother Irene (Sarandon) hires a psychotherapist and a ‘muse’ to lure Nate back to work.

Director Steve Shainberg said: “The Big Shoe provides the opportunity to explore a playful, romantic, sexy, intimate connection just as ‘Secretary’ did. The script combines eroticism and humor in such a unique way – where shoes are better than sex.”

AWE’s Darby Angel said: “This project has all the elements we were looking for to satisfy our financing model. The script is strong, as is the cast and the creative team. It’s great to work with an experienced and reputable producer like Lazar. The Big Shoe ticks all the boxes, especially as our investment criteria are non-negotiable.”

Georgina Goodman, the acclaimed shoe designer from England, will design the footwear showcased throughout the film. Recently, Goodman designed a pair of wedding shoes commissioned by the Royal Mint to celebrate the Royal Wedding. Only eleven pairs of the to-die-for shoes were produced, with the first gone to Kate Middleton.

Sturgess is represented by Megan Willis of Garricks (UK) and CAA, Sarandon by ICM and Shainberg by Sara Bottfeld and Jess Rosenthal of Industry Entertainment. The deal was negotiated by CAA.

Denmark’s Vinterberg brings ‘The Hunt’ to Cannes (AP)

Thomas Vinterberg is aware his new movie, “The Hunt,” may touch a raw nerve. Several, in fact.The Danish director’s Cannes Film Festival contender…

Ever-busy Zuckerberg marries sweetheart the day after Facebook IPO

mark-zuckerberg-marries

As if Facebook CEO Mark Zuckerberg wasn’t busy enough readying his company to go public this past week, he also somehow found time to marry long-time sweetheart Priscilla Chan yesterday.

Social networking titan Facebook went public Friday in the largest tech IPO in history. While the stock disappointed many analysts and social media enthusiasts by closing 9.5 percent down from its opening price, it still remained above the original offering price of $38 a share. Now Facebook will face a new level of scrutiny as it continues monetize its 900-million-strong user base.

But even with all the Facebook IPO madness, Zuckerberg and Chan got married yesterday at Zuckerberg’s home in Palo Alto, Calif. The couple was surrounded by 100 guests who thought they were there to attend a party for Chan’s graduation from University of California’s medical school. Instead of a hoodie, Zuckerberg dressed in a slick suit and tie, while Chan wore a white wedding dress.

A guest of the wedding claims that the couple had always planned to get married right after Chan finished medical school and the timing with the IPO was coincidental, according to the Associated Press. Zuckerberg gave Chan a ring he had made with a “simple ruby” although he could have easily bought her one of the world’s most expensive diamond rings if he wanted.

We wish Zuckerberg the best on his journey with his lovely new wife. While he may not be able to fix any future relationship problems with an all-night hackathon or an algorithm change, we’re sure he’ll figure it out. Congrats Zuck!

Read more about Facebook:

Filed under: social, VentureBeat



Jean-Louis Trintignant back on screen in ‘Amour’ (AP)

It’s 43 years since Jean-Louis Trintignant was named the Cannes Film Festival’s best actor for “Z,” and 14 years since the French performer all but…

Finale Ratings: Grimm at 17-Week High, Nikita Steady, Supernatural Dips in Friday Farewell

NBC’s Grimm wrapped up its freshman run with an audience of 5.3 million total viewers while scoring a 1.6 demo rating, rising 19 and 33 percent week-to-week and hitting a 17-week high in the demo.

The series finale ofNBC’s Who Do You Think You Are? (5.54 mil/1.0) also was on the upside, gaining 16 percent and a tenth.

RELATED | Fall TV Grid: What’s On When? And Versus What?

Elsewhere in finale-land, Shark Tank (5.53 mil/1.5) dropped two tenths in the demo, Nikita (1.5 mil/0.4) rose 17 percent in audience while flat in the demo, and Supernatural (1.6 mil/0.6) slipped a tenth in its final Friday outing. The Winchesters will see you Wednesdays at 9, come October!

VIDEO | Supernatural Stars Talk New Showrunner and a Possible Season 10!

As for “superlatives” on this final Friday of sweeps, a Blue Bloods repeat led in total viewers with 6.5 mil, while Grimm scared up the best rating.

Bollywood Star Ends Mystery Over Granddaughter’s Name

NEW DELHI — Bollywood megastar Amitabh Bachchan says his superstar son and daughter-in-law have named their baby girl Aaradhya.

Speculation about the baby’s name had swirled since she was born Nov. 16 to actors Abhishek Bachchan and Aishwarya Rai Bachchan, a L’Oreal spokeswoman and former Miss World.

The proud 69-year-old grandfather – referred to in Bollywood as “The Big B” – had been calling the baby “Beti B,” using the Hindi word for “daughter.”

On Sunday, he confirmed rumors that “Her name is Aaradhya,” following a question from a fan on social networking site Twitter.

India’s boisterous media have been unusually respectful of the couple’s privacy during the birth of their first child, after an industry group issued guidelines for restraint.

WATCH: SNL’s Emotional Goodbye To Kristen Wiig

NEW YORK — Kristen Wiig got a musical sendoff on the season finale of “Saturday Night Live” as the popular and versatile cast member made her exit after seven years.

In the show’s final sketch, guest host Mick Jagger played the principal at a high school graduation and brought up Wiig, in cap and gown, as “one particular student who is leaving this summer.”

She danced in turn with Jagger, cast members and executive producer Lorne Michaels to the tune of the Rolling Stones classic “She’s a Rainbow.” Then the ensemble sang another Stones hit, “Ruby Tuesday,” with its line, “still I’m gonna miss you.”

Wiig appeared to be holding back tears.

Though NBC had made no prior announcement of her departure, it comes as no surprise. She starred in and co-wrote the hit comedy “Bridesmaids,” and even before that had notable roles in “Friends With Kids,” “Paul,” “Adventureland” and “Knocked Up,” among other films. She has six more in various stages of development.

Wiig’s almost limitless range of characters on “SNL” has included neurotic attention-seeker Penelope; Kat, half of the musical duo Garth and Kat (alongside Fred Armisen); and such real-life notables as Bjork, Kathie Lee Gifford and former Speaker of the House Nancy Pelosi.

Andy Samberg and Jason Sudeikis have also been reported to be leaving “SNL,” though Michaels recently said any decision on cast changes will wait until the summer.

___

Online:

Cannes: Jackie Chan Nixes Rush Hour 4

Cannes: Jackie Chan Nixes Rush Hour 4

But might do it in a decade

At a Cannes press conference to hype up his latest movie — globe-spanning treasure-hunting caper Chinese Zodiac — Jackie Chan announced that he’s done with bone-crunching action for good, but added, “In the future I’ll still do Karate Kid 2, Rush Hour 4…”

This statement, combined with the fact that Rush Hour director Brett Ratner flew into France to help his buddy promote Chinese Zodiac, got us wondering whether the fourquel is actually already underway. But when Empire sat down with Chan after the press conference, he made it clear that he won’t be re-uniting with Chris Tucker any time soon.

“No, no, no! I don’t want it to happen at this moment,” he announced, shaking his head furiously. “Probably another five or ten years. Then will be Rush Hour 4 – boom, we’re coming back! And at that time I might retire. Us being old guys might make it a more interesting story. But at this moment I don’t think it’s something I want to do.”

So there you go. Those keen for more culture-clash carnage may have to wait until 2022, by which time it could be less Rush Hour, more Trudge Hour…

Look out for more from Chan in a future issue of Empire.

Cannes: Latest On Zorro Reborn & Silence

Cannes: Latest On Zorro Reborn & Silence

From the mouth of Gael García Bernal

Gael García Bernal is in Cannes to help get the word out on his latest movie, No, a gripping (if un-Google-able) drama about the campaign that brought down Chilean dictator Augusto Pinochet in 1988. More on that soon, but while we were in Bernal’s presence we asked for an update on two other projects he’s linked to: rapier-slashing reboot Zorro Reborn and Martin Scorsese’s long-gestating epic, Silence.

Zorro would be a change of pace for Bernal, given that his IMDb page is currently devoid of Hollywood blockbusters. Is he worried he might be selling out? “You know, I feel like an outsider now, more than ever,” he says. “I make career deisions that are not necessarily in accord with the expected narrative. But I don’t want to be the boring guy that always says, ‘I don’t want to do a commercial movie”, so I might challenge that by doing one! Why not?”

That said, Zorro’s rebirth is far from a sure thing. While some online sites are reporting that South American director Ricardo de Montreuil has the job, Bernal says, “There’s no start date and I don’t think there’s a director yet. I don’t know if it will happen.”

And he’s just as unsure about Silence, the tale of a missionary sent to the Far East which Scorsese has been trying to get off the ground for over a decade. The director has picked The Wolf Of Wall Street, with Leonardo DiCaprio, to do next, but Bernal says he and Scorsese are still in contact about their possible collaboration.

“It’s about Jesuit priests in Japan in the 18th century. A lot of emotion. A lot of martrydom. We are still talking about it and they are getting the money together. It is an expensive film, so I don’t know if they will manage it. I really hope they do.”



Jacques Audiard praises B movies at Cannes (AP)

Jacques Audiard is on a quest to revive the B movie.The French director has won a prize at the Cannes Film Festival and been nominated for an…

Saoirse Ronan Attached To ‘Testament Of Youth’; Simon Curtis Preps ‘Golden Lady’

Saoirse Ronan is returning to her period roots with the David Heyman-produced Testament Of Youth. The Atonement actress, who’s lately made a detour into action, has become attached to the adaptation of Vera Brittain’s World War I memoir. The tome, adapted by Calendar Girls’ Juliette Towhidi, traces Brittain’s experiences as a disillusioned nurse during the war and the beginning of her career as a journalist and pacifist. Heyday Films and BBC Films are producing.

Presenting its slate in Cannes today, BBC Films also announced it is reteaming with My Week With Marilyn director Simon Curtis for The Golden Lady. Playwright Alexi Kaye Campbell wrote the script. David Thompson of Origin Pictures is producing. At the center of the film is Maria Altmann, a refugee from Nazi Austria who waged a legal campaign with lawyer Randy Schoenberg to reclaim several world famous Klimt paintings that had been stolen by the Nazis. Among them was his most famous golden portrait of Maria’s aunt, Adele Bloch-Bauer.

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