Daily Candy, founded in 2000, sends its free daily e-mails on city-specific events, fashion, travel, new products, and other items to what it calls "an affluent, influential female audience."
The deal earned Pilot Group founder Bob Pittman, whose reputation floundered after he managed AOL during the bubble, approximately a 36-fold return on his 2003 investment of $3.5 million.
Runner-up Viacom considered paying $120 million for Daily Candy, according to Silicon Alley Insider, which had earlier predicted a sale price of about $75 million.
Newly minted Sirius XM Radio chairman Mel Karmazin has a tough task ahead of him in communicating to investors that the newly formed satellite radio corporation will be profitable.
British Airways invests in an advertising campaign to sell its new terminal at Heathrow Airport, which has been plagued by delays and lost luggage, as a well-oiled machine.
Celebrity heiress Paris Hilton issues a video response to Sen. John McCain's (R-AZ) advertisement portraying rival Sen. Barack Obama (D-IL) as an airheaded celebrity.
Less than a week before the 2008 Summer Olympics' opening ceremonies, China apologizes for the beatings of Japanese journalists.