Thursday, July 19, 2007

Viacom Succession Plan Disrupted -- Sumner Redstone's Daughter, and Heir Apparent, Leaves the Board

Breaking news from The Wall Street Journal ...

Attention Those of You Traveling to Europe This Summer for Holiday

As indicated in my last post, I just returned from holiday in Europe -- wonderful trip with the family to Italy (Positano, Rome, Milan, Lake Como) and England (London) to visit family and friends.

Not so friendly were the prices to us, as U.S. travelers, given that the dollar is at its lowest historical point against the Euro and at 30 year lows against the Pound. An interesting article worth reading for anyone traveling later this summer on a European vacation ...

While I Was Away -- DMGI and The Orchard Agree to Merge (and Become THE Global Digital Media Aggregator and Services Company)

While I was away in Europe (and while my compadre Andy Abramson was nearby getting married in France -- CONGRATULATIONS ANDY!), hard to believe, but business continued as usual!

Notably, and of interest in digital media circles, Digital Music Group, Inc. (NASDAQ: DMGI) and The Orchard agreed to merge to create an unrivaled global digital media aggregator and services company and overall powerhouse. I have sat on the board of DMGI for the past 18 months, and this is a very interesting development indeed, given each company's existing individual global position and reach and given the natural complementary assets each company brings to the table (including compelling music and video catalogs). The deal properly received high visibility.

The combined company -- to retain The Orchard name and to publicly trade on NASDAQ -- not only will provide unrivaled services and credibility to content providers of all compelling media, but also will provide online retailers with a one-stop shop for deep and compelling content to make available to consumers.