While We Slept...

Sumner Redstone and daughter Shari love each other again.  Dinner at Il Postino, bottle of Cristal, her kids, no hug.  But Philippe is still the prodigal son.  Zachary Kouey, New York Post

Yahoo’s six-month-old search ad system, Panama, is no better than the old one, or so say a couple recent studies and some anecdotal evidence.  One customer says the interface is excellent, but clicks have dropped.  One study says clicks have increased, but revenue per click has dropped.  Still early yet, but doesn’t seem Panama is going to save Yahoo’s day.  Richard MacManus, ReadWriteWeb

Billboard revamps Hot 100 singles list to include data on streamed music. Sean Kingston’s “Beautiful Girls” will be the first digitally enhanced No. 1.  Elton John may want the Internet unplugged to save music, but everyone else is finally starting to face reality.  Brian Garrity, New York Post

UK YouTube gooser reprimanded, but not fined. Thanks to the clip of him pinching the posterior of a TV reporter as she covered the Oxford floods, moreover, he’s now a celebrity.  TheInquirer

Vonage launches Ooma-killer LCD caller-ID screen
to “inspire consumers to proudly display their Vonage router rather than hide it under their desk.”  TechCrunch.  Unfortunately, customers’ propensity to hide their Vonage routers is the least of the company’s worries.

Viacom and Paris-based mobile gaming company Gameloft team up to bring you…Beowulf, the game.  The title will be a tie-in to Robert Zemeckis’s Beowulf…the movie, which should be out this fall.  Mobile gaming was a $2.6 billion business in 2005, projected to grow to $11 billion in 2010.  Gameloft’s revenue hit $32 million last quarter, closing in on EA’s $33 million.   Forbes.com

RBC: Apple a “Buy” even with those iPhone component cuts. Apple tanked Tuesday when reports rippled out about orders being cut.  RBC confirmed those reports, but says buy Apple anyway.  SeekingAlpha

Finally, an easier way to get inside information!  A new site called Wurkpal will let workers say anything about their companies, share secret documents, start rumours, etc., with complete anonymity (at least until the Feds descend).  Mashable damns with faint praise.  We would do same.   Mashable

Viacom’s MTV Networks writes off $36 million investment in bankrupt “virtual” mobile phone carrier Amp’d.  paidcontent. Could have been worse: Viacom could have avoided investing in any digital properties–and set itself up for certain death.  Meanwhile, Earthlink investment in sexier but struggling Helio to follow? 

Bear Stearns analyst Bob Peck agrees with us: Facebook’s worth a boatload.  Bob’s number is $5-$6 billion, slightly below our $7ish, but his revenue estimates are lower than ours. Telegraph  Meanwhile, wonder if the Winklevoss twins, the ones who are suing Facebook CEO Mark Zuckerberg for stealing their idea, have been able to dig any evidence of a “breached contract” 

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