2008 05-12 MediaBytes: JIMMY FALLON - NEWS CORP.- FACEBOOK -

NBC will officially name Jimmy Fallon as the future host of Late Night. Fallon will takeover for Conan O'Brien beginning June of 2009, when O'Brien will begin hosting "The Tonight Show."

NEWS CORP. has pulled its bid for NEWSDAY. The media conglomerate withdrew its bid for the Long Island newspaper a week after CABLEVISION bid $650 million for NEWSDAY. If Ruper Murdoch's News Corp. bid had been accepted, it would have faced immense FCC scrutiny, as the company already owns two newspapers and two television stations in the New York Market. Instead, Cablevision, whose interest in the newspaper is still sketchy at best, is likely to be the new owner of Newsday.

FACEBOOK borrows $100 million for server upgrade. Rather than go public and sell stock to help finance a serious server upgrade, Mark Zuckerberg, CEO of the social networking site, chose to let venture loan firm TRIPLEPOINT front the money. The upgrade comes months after Zuckerberg announced that Facebook's projected revenue for 2008 is expected to jump from $150 million in 2007 to $350 million in '08.

The iPhone is currently unavailable at the APPLE online store. The move comes days after UK retailer O2 stopped selling the phone. Noting that Apple never telegraphs its months in advance, analysts believe this could mean that 3G iPhones are ready to be shipped in as little as a few days.

RESEARCH IN MOTION will roll out its new Blackberry Bold today. RiM's update to the popular handheld is a media-rich, 3G offering set to compete with the iPhone, while additional processing power aids its more advanced business applications. The new Blackberry Bold is a sleek offering fit for both personal users and its traditional business clientele.

Read more at ShellyPalmer.com

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