Microsoft Corp reported that it has sold its 50% stake in news website MSNBC.COM to Comcast Corp. , the parent company of NBC. The deal as reported byNYTIMES.COM was reportedly for $300 Million. The joint venture, which began 16 years ago between Microsoft and NBC Universal, is expected to take over a year to adequately separate the involvement of the two firms, as a tight integration was present. The site will be renamed NBCNews.com. MSNBC.COM was viewed as an innovative move in 1996 when NBC and Microsoft created a cable news channel and online news operation that intermingled broadcast news with then state-of-the-art web technology. Microsoft originally invested $220 million for its 50 percent stake in the project.. In 2005, the companies ended their business partnership operating the MSNBC cable channel. NBC was subsequently acquired in 2009 by Comcast Corp..
MSN said in a blog statement that it will be delivering a new news service in the fall that will be focused on its online consumers “harnessing real-time signals produced by social networks using the power of search to deliver breaking updates”.Pages: