Monday, October 01, 2007

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

Meanwhile (later in the same article), Skype now has 220 million registered users 

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."

In addition, Skype co-founder Niklas Zennstrom has stepped down as CEO of the company and will become non-executive chairman. Mr. Zennstrom helped start Skype in 2003 with Janus Friis. The duo, who were also behind the Kazaa music sharing service, founded Joost, an Internet television service, earlier this year.

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

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