Sources say Groupon rejects Google offer
CHICAGO --- Groupon Inc. has rejected an acquisition offer from Google Inc. and is staying independent, two sources with direct knowledge of the situation told the Chicago Tribune .
The companies had been in talks, with speculation about the corporate marriage reaching a fever pitch over the last week. Google had reportedly offered between $5 billion and $6 billion for the deal-offering startup.
Groupon might still choose to pursue an initial public offering but will not make a decision about going public until 2011, a source said.
The startup has expected annual revenues of $500 million this year. It offers consumers steep discounts on local businesses, but only if enough people sign up for the offer. Groupon takes a cut, typically 50 percent, of the revenue from each of its daily deals.
Federal auto proposal pushes rear cameras
WASHINGTON --- Rear-view cameras could become more common in cars and trucks under rules proposed by the government Friday to address concerns about drivers unintentionally backing over children.
The new requirements from the Transportation Department are intended to improve rear visibility in cars by the 2014 model year. Most carmakers would comply by installing rear-mounted video cameras and in-vehicle displays. The government estimated that video systems would add $200 to the cost of each new vehicle.
Nearly 300 people are killed and 18,000 hurt each year because of backovers, according to data kept by the National Highway Traffic Safety Administration.
The camera systems allow motorists to see what's behind them via a video display on their dashboard. They typically feature a bell or alarm that alerts the driver if an object is within the field of view of the camera.
Automakers said they were reviewing the proposal but were supportive of efforts to keep children safe.
Viacom files appeal in suit targeting YouTube
SAN FRANCISCO --- Viacom Inc., the owner of MTV, Comedy Central and Nickelodeon, is trying to revive a federal lawsuit that seeks more than $1 billion in damages from YouTube for showing tens of thousands of pirated video clips from its shows.
A judge in June rebuffed Viacom's copyright infringement suit against YouTube and its owner, Google Inc.
The legal battle has already dragged on for nearly four years. Oral argument on the appeal probably won't happen until at least next summer.