BNET Daily Dispatch: Google, Sallie Mae, Yahoo, and Retail Sales
- Google's rivals are urging regulators to scrutinize its $3.1 billion deal to buy DoubleClick for antitrust infringements. Google beat out Microsoft and Yahoo to buy ad supplier DoubleClick, further securing its dominance in the web advertising business. Microsoft, AT&T, and Time Warner were among the companies that called for regulators to scrutinize the deal.
- Sallie Mae, the largest U.S. student-loan provider, accepted a $25 billion takeover bid from a group led by J.C. Flowers. Others in the group include, Friedman Fleischer & Lowe, JPMorgan Chase, and Bank of America. Sallie Mae said last week that it would pay $2 million and adopt a new code conduct in a settlement with the New York Attorney's office, which is investigating loan practices among lenders and college financial aid officers.
- Yahoo said today that it struck a deal with McClatchy, which expands Yahoo's online advertising partnership to more than 250 U.S. newspapers. Newspapers hope the partnership will give them more revenue from Internet advertising. The deal allows Yahoo to create closer ties with the newspaper industry as advertising competition with Google heightens.
- Retail sales in the U.S. increased by 0.7 percent in March, beating economists expectations. The Commerce Department said today that it was the biggest rise in three months. Retailers said warm weather and the Easter holiday helped spur their sales last month.