Monday, October 01, 2007

EBay Plans to Take $1.4 Billion In Skype-Related Charges -

EBay Inc. said it plans to take about $1.4 billion in Skype-related charges in the third quarter and announced a management shakeup at its Internet phone subsidiary.

The Internet auction giant said the charges include $530 million to complete payments related to its 2005 acquisition of Luxembourg-based Skype. The other roughly $900 million in charges reflect goodwill impairment due to "the updated long-term financial outlook for Skype."

I remember a lot of predictions about how Skype would replace telephony and e-mail for EBay users to finalize sales, negotiate returns, etc. I guess this technology stuff is harder than we thought huh?

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