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Wednesday, August 30, 2006

Media Digest 8/30/2006 Reuters, WSJ, NYT


According to Reuters, Starbucks withdrew an offer for free iced coffee to some employess, their families and friends located in the southeastern US.

Reuters writes that AT&T announced that hackers had stolen credit card data on some of the company's customers. The telecom company said that fewer than 19,000 records were involved.

Reuters writes that the CEO of Google has joined Apple's board bringing the number of board members to eight.

The Wall Street Journal reports that Schering-Plough agreed to pay $435 million to settle allegations of fraudulent drug marketing and pricing.

The Wall St Journal writes that Barnes & Noble has received a subpoena from the U.S. Attorney for the Southern District of New York about options backdating.

The Wall St Journal also writes that Novell has started an internal investigation on options pricing and will delay filing its 10-Q.

The New York Times says that Kraft is getting closers to being spun off from Altria. With the Altrai board meeting soon and the last large suits against its cigarette unit behind it, the company can begin the process of a tax free transaction to spin out Kraft.

Universal Music and a new company, SpiralFrog, will begin an ad supported service for music downloads which will be free to customers. The program is a challenge to Apple iTunes. SpiralFrog said it was approaching other record companies with the same program.

Douglas A. McIntyre

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