As predicted Virgin Media is to delay its auction in the hope credit market turbulence will settle to allow private equity suitors to finance bids of up to $23 billion (E16.8bn). The UK company had set a deadline of next week for initial offers, after an approach by Carlyle kicked off an auction. But its […]

Disney has made its first acquisition in social networking buying Club Penguin, which operates an online virtual world for children, for a fee that could eventually rise to $700 million.The deal bolsters its presence in digital entertainment. Unlike social networking sites for older audiences, such as MySpace and Facebook, Club Penguin has a subscription-based business […]