Facebook will give investors and the world their first official look at its post-IPO earning for Q2 2012 at 2pm PST on July 26th, according to a brief note posted to its investor relations page just now. The company’s share price closed at $31.095 today, down $0.265 or 0.85%, but still closer to the $38 IPO price than its been for most of the time since its May 18th public debut.
The company pulled in $1.058 billion in Q1 2012 revenue with a net income of $205 million. Critics will want to see both of those increase and will likely focus on its mobile revenue. Facebook only began showing ads on mobile at the end of February, but monetizing the medium is believed to be the linchpin of Facebook’s future success.
The owner of The Orange County Register announced today that the paper has been bought by 2100 Trust LLC, a privately-held company led by a Massachusetts investor who previously planned to buy The Boston Globe.
Today’s announcement is the latest in a major sea change in U.S. newspaper ownership as the industry struggles to adapt to the Internet age following years of plunging ad revenues and declining circulation.
A whole new group of media players has entered the scene, the most notable of which is billionaire Warren Buffett whose company, Berkshire Hathaway, said last month it would pay $142 million for 63 Media General newspapers.
Southern California’s media landscape is also being remade. Last year, Douglas F. Manchester, a San Diego developer and hotelier, bought the Union-Tribune from Platinum Equity, a Beverly Hills private equity firm. Manchester told online website Voice of San Diego he paid more than $110 million for the paper.
Changes may also be in the works at the Los Angeles Times whose owner, the Tribune Co., is going through what is expected to be the final stages of a nearly four-year bankruptcy.
Many experts think the creditors who will take over Tribune Co. after the bankruptcy will sell off its various properties including the Times.
Read the full story – Orange County Register company bought by private firm
Also, read the family history of The O.C. Register founders – Hoiles: Dynasty to bankruptcy
Three months after the acquisition of Gowalla by Facebook, the company has officially closed it doors. The screenshot below can be found on the location startup turned travel guide‘s homepage.
Gowalla launched in 2009 and raised approximately $10 million. Facebook’s acquisition price hasn’t been disclosed but is rumored to be primarily Facebook stock.
Early investor Jason Calacanis talks about the end of Gowalla.