Ahead of the Google Bell
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NEW YORK found at http://www.chron.com/disp/story.mpl/ap/fn/5240507.html
Internet search engine and advertising leader Google Inc. is expected to discuss its planned acquisition of DoubleClick, among other items, at a Wednesday analyst day.
The European Commission has until Nov. 13 to consider Google's $3.1 billion bid for online advertising company DoubleClick. The agency could either approve the deal or open an in-depth inquiry that could take months.
Rivals Yahoo Inc. and Microsoft Corp. have said the deal raises antitrust concerns for the Internet advertising market.
Bear Stearns analyst Robert S. Peck, in a client note, said investors could ask the company about regulatory approvals related to the acquisition, among other items.
The analyst also said investors could inquire about the company's chief financial officer search, long-term growth plans and social networking and mobile platform opportunities.
Peck said he'll look for comments on YouTube's performance.
Last week, the company reported third-quarter revenue and adjusted earnings results that easily beat analyst estimates.
ThinkEquity Partners analysts, in a Tuesday client note, raised the stock's target price to $800 from $700 and reiterated a "Buy" rating.
Shares rose 3.8 percent to end at $675.77 Tuesday.
© 2007 The Associated Press
Google Maneuvers for DoubleClick Advertising Approval
October 24, 2007 By Leo Cendrowicz
found at adweek.com
Google advertising DoubleClick in Brussels
BRUSSELS Google has offered key concessions to the
European Commission in a bid to ensure that its $3.1 billion plan to buy online
advertising giant DoubleClick is cleared.
The commission, the European Union's antitrust authority, has set a Nov. 13,
2007 deadline to complete its initial investigation into the deal, but already has
raised questions about whether the takeover will create an online giant that
crushes competition.
In an effort to allay EC concerns, Google has offered to guarantee that key
DoubleClick business practices are not changed. Google lawyer Julia Holtz did
not elaborate on specifics, but insisted that the company would ensure the
advertising market remains competitive and innovative.
"We believe that the deal is good for publishers, advertisers and
usersand we trust that the commission will reach the same conclusion,"
she said.
DoubleClick is the world's largest broker of online banner advertising. Its
products allow customers to place and track online advertising, including search
ads. Although the online advertising market is new and subject to rapid change,
Google said it is confident it can allay any antitrust concerns.
Google's offer comes as rivals Microsoft and Yahoo! have raised concerns that
the deal will damage competition and give Google a monopoly in the $28.8 billion
global online advertising market.
Yahoo!'s head of European public policy, Andrew Cecil, has said the merger would
strengthen Google's dominant position in Europe. "The end result will be
higher prices for Internet publishers and advertisers and less choice for
European consumers," he said.
In September, Microsoft general counsel Brad Smith told a U.S. Senate hearing
that the deal should be blocked because it would give Google "sole control
over the largest database of user information the world has ever known."
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