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The company confirms discussions with Interpark to purchase almost 40 percent of Gmarket, an online retailer based in South Korea.
The online auction giant is willing to pay up to $1.2 billion for the South Korean e-commerce site. Yahoo, meanwhile, has agreed to sell its 10 percent stake.
As the online auctioneer brings in better-than-expected first-quarter results, it argues that it is increasing efficiencies and focusing on core strengths.
The Net pioneer had already idled the site for sharing and combining online videos, but now it's closing it June 15.
Maggie Reardon from News.com joins Natali and me to talk about a host of cell phone news including new iPhone patents, legislation around sexting, and of course, courier pigeons that deliver contraband cell phones to inmates.
Online-advertising budgets are likely to be flat or decreasing, and companies such as Google and InterActiveCorp that on it can expect to feel the pain, financial analysts say.