Media Roundup: Apple Rumored to Release Web Tablet in 2010, Portfolio to Return as Web Only and More

Apple rumored to release Web tablet in 2010 -- Apple is rumored to be working on a lightweight tablet computer that would be an intermediate step between a mobile device, such as the iPhone, and highly portable "netbooks." The highly secretive company's recent technology purchases, patent filings and hints in the iPhone operating system's code have lead many to belove that the company is hard at work on a tablet product. Netbooks are booming in popularity, as is Apple application store for its mobile devices. Estimates place the tablet release at sometime in the 2010 calendar year. [Source: The Business Insider]

Portfolio to return as Web only -- Portfolio, the business magazine that was shut down earlier this month, is being revived as a Web-only publication. The magazine's previous owner, Conde Nast has transferred control of Portfolio to its sister company, American City Business Journals. ACBJ will maintain the Web site as well as have full editorial control. The magazine's staff will be trimmed down to five editorial employees and the site will have a loose content sharing agreement with Conde Nast Web sites such as Vanity Fair and Wired. [Source: New York Observer]

Google not buying a newspaper -- After much speculation, Google CEO Eric Shmidt reiterated that the search giant is not interested in buying a newspaper. Some had suspected Google may purchase one after the company met with the New York Times and the Washington Post. Google has been under fire recently as struggling news publishers accuse it of making money off of the content of others. While the topic of purchasing a newspaper has come up among Google executives, the company said it has no plans to enter the content business. [Source: All Things Digital]

Time Warner bids on Midway -- Time Warner has placed a $33 million bid on embattled game publisher Midway. Midway, responsible for the Mortal Kombat franchise as well as a host of other video games, filed for bankruptcy after it was unable to pay its creditors, which include Time Warner. Warner Brothers has been snapping up video game publishers in recent years, including Tomb Raider publisher Eidos. Attorneys for both sides met yesterday, and an agreement was put in writing. There are a handful of other bids on the company, but company sources believe that Time Warner is the most likely suitor. [Source: Kotaku]

Yahoo! has generated $50 million for newspapers -- Yahoo's "consortium" of newspapers have netted an estimated $50 million thanks to their partnership with the search company. The Newspaper Consortium is a group of newspapers that Yahoo sells advertising for. Yahoo recently unveiled a targeting system that helps local papers fill inventory with larger advertisers. Thus far, Yahoo has been vague about the success of the program, but newspaper publishers have voiced that they are pleased with the arrangement. [Source: paidContent]