Friday, February 13, 2009

anyone who figures out how to make money from radio should be a genius

seems Google can't figure out now..

Google to Shut Down Radio Business, Cut up to 40 Jobs (Update3)

By Brian Womack

Feb. 12 (Bloomberg) -- Google Inc., owner of the world’s most popular search engine, announced plans to shut its three- year-old radio-advertising business and cut as many as 40 jobs, saying the investment didn’t provide enough of a payoff.

The company, which expanded into the market with the 2006 purchase of DMarc Broadcasting Inc., is seeking a buyer for software that arranges ads on radio programs. Google will stop selling radio ads by May 31 and focus instead on online streaming audio, according to a blog posting today.

The move illustrates Google’s failure to parlay its dominance in Internet-search ads into offline media. The company said last month that it would close a business that sold ad space in newspapers. Google spent $102 million in cash for DMarc and agreed to pay as much as $1.14 billion in later installments depending on performance.

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