Obama Praises GM Bailout as Shares Gain 4% in IPO

Following General Motors’ historic return as a publicly traded company Thursday, President Obama said the U.S. government, despite the many critics, is on track to more than recoup the nearly $50 billion it invested in the Detr…

MySpace Launches ‘Mashup’ Feature With Facebook

In the “If you can’t beat ’em, join ’em” department, MySpace launched a feature that lets users import interests from their Facebook profiles to give MySpace pages a broader stream of entertainment content.
Con…

Cablevision May Spin Off Rainbow Unit

Cablevision Systems Corp. (CVC) is considering spinning off its Rainbow unit, which includes cable channels AMC, Sundance and IFC.

The company may spin off the unit to its shareholders as a “tax-free pro-rata distribution,” Cablevision said in a sta…