Facebook is poised to go public with hopes of raising at least $5 billion, The New York Times reports.
MSNBC examines how charities could benefit from Facebook’s initial public offering and the creation of many new millionaires. And the San Jose Mercury News reports on how Silicon Valley stands to benefit from Facebook’s long-anticipated move to go public.
Sprint has given LightSquared six more weeks to try to win regulatory approval of its wireless broadband network that will use Sprint’s infrastructure as part of a deal between the two companies, according to Computerworld.
Megaupload is negotiating with U.S. prosecutors on an agreement that would allow legitimate users of the site, which is accused of piracy, to get their files, according to the Wall Street Journal.
Sony CEO Howard Stringer is being replaced by the head of the company’s Play Station gaming division, Kazuo Hirai, according to CNET.
Google CEO Larry Page has declined an invitation by the chairwoman of a House Energy and Commerce subcommittee to discuss Google’s controversial privacy changes and is instead sending two subordinates to the closed-door briefing, USA Today reports. Read National Journal’s latest coverage of the controversy here.
Barnes and Noble says it will not carry books in its retail stores that are published by Amazon, Mashable reports.