Redbus entrepreneur on lookout for turnaround ‘challenge’

Simon Franks, the British entrepreneur who reaped £12m from the sale of his Redbus film distribution business and has since focused on the outdoor advertising industry, has said he is scouting for struggling companies he could potentially turn around. By Cosima Marriner.

New internet boss at News Corp

10am update: News Corp chairman Rupert Murdoch has promoted a 33-year-old, former McKinsey management consultant to head up his firm's internet investments. By Jason Deans.

Microsoft could face 2m euro a day fine over competition ruling

The European commission significantly raised the stakes yesterday in its protracted legal battle with Microsoft by threatening to fine the world's biggest software group 2m euro a day for non-compliance with anti-trust sanctions. By David Gow.

Paramount to buy Dreamworks

Dreamworks, the film studio co-founded a decade ago by Steven Spielberg, is about to be sold to rival Hollywood film-maker Paramount Pictures, according to weekend reports.

Nintendo profits plummet

Nintendo saw its profits halve over the six months to September as its GameCube console came to the end of its life, it invested heavily in its new Revolution console and it cut the price of its DS device. By Richard Wray.

Duds drive Disney films to £180m loss

A string of box office duds dragged Walt Disney's film business down to a $313m (£182m) loss in the fourth quarter. By David Teather in New York.

God meets mammon – a Disney fantasy come true

Walt Disney is hoping The Chronicles of Narnia: The Lion, the Witch and the Wardrobe, a film based on the much-loved book by CS Lewis, will be the beginning of the biggest franchise in the history of its film business. By David Teather.

Microsoft boosts stake in internet telephony

Microsoft will today announce plans to move further into the voice market through the acquisition of a Zurich-based software firm, enabling it to offer premium services to business customers. By David Teather.

‘We are facing a cliff edge moment’

Interview: Publicis chief executive Maurice Lévy has warned of the threat posed to traditional advertising by new media. By Dan Milmo:.

Sorrell accuses Murdoch of panic buying

12.45pm: WPP group chief executive Sir Martin Sorrell has accused traditional media owners such as Rupert Murdoch of panic-buying internet companies because of falling ad revenues. By John Plunkett.

Tomb Raider firm receives takeover approaches

10.45am: Shares in the video game company behind Lara Croft soared almost 30% today after it said it had received approaches which may lead to a takeover bid. By John Plunkett.

Redbus owner to sell for $35m

A 34-year-old who started a film distribution company in his bedroom eight years ago is set to make more than $21m (£12m) by selling Redbus to Lions Gate, a leading US film distributor, for at least $35m. By Jane Martinson.

Real deal ends Microsoft’s US legal battle

Microsoft has secured a $761m (£435m) deal to resolve a lawsuit from rival Real Networks in a settlement that finally clears away the morass of anti-trust legal action in the US that has dogged the firm over the past decade. By David Teather in New York and Richard Wray.

Online advertising spending soars

Spending on online advertising rocketed by over 60% in the first six months of this year, overtaking the market share of outdoor advertising for the first time, a year ahead of predictions. By Dominic Timms.

Online ad spending soars

8am: Spending on online adverting rocketed by over 60% in the first six months of this year, overtaking the market share of outdoor advertising, a year ahead of predictions. By Dominic Timms.