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RAIN 11/19: Cuban says he never agreed to confidentiality, denies charge

Posted on: 11/19/2008

Attorneys for Mark Cuban say he never agreed to keep confidential information that led him to sell his stake in a Canadian web search firm, and which yesterday brought an SEC charge of insider trading. The SEC sued yesterday, charging that Cuban sold his shares of Mamma.com after the company’s CEO Guy Faure revealed to Cuban his plans for a secondary stock offering. Today, Cuban made public the purported transcript of a conversation between Faure and Cuban’s lawyers, in which Faure admits Cuban did not explicitly agree to keep their conversation under wraps.

Cuban yesterday, in response to the SEC charges, wrote in his blog, “The government’s claims are false and they will be proven to be so.” MarketWatch reports (here}), “Cuban could face millions of dollars in fines and disgorgement if the case is brought to trial and the SEC is victorious. He would also be forced to disclose the issue in future public financial filings.”

WEBCAST’S IMPACT ON RADIO LISTENING INEVITABLE, SAYS RADIO WORLD’S PIZZI

“It’s now no longer a question of if, but rather when, the wireless Internet will have measurable impact on radio listening,” writes Skip Pizzi of Radio World (here). Pizzi says that broadcasters can help avoid irrelevance by moving online and to mobile phones fast. “It is therefore to broadcasters’ advantage to play along rather than fight,” he writes, arguing that broadcasters should not wait for FM receivers to come to phones, but get to mobile devices via 3G/4G.

MUSIC ALLY LIKES LAST.FM FOR IPHONE, BUT NET RADIO HARD TO FIND IN REDEYE’S TOP 100

UK music blog Music Ally granted the Last.fm app a spot in its 12 favorite iPhone downloadables. That same app landed in the Chicago Tribune’s RedEye’s Top 100 favorite iPhone applications. Apps from WunderRadio and Pandora also made the list here. RAIN yesterday reported tech blog Gizmodo’s Top 20 essential iPhone apps here.

CASTCATCHER APP APPROVED FOR iPHONE

The CastCatcher application, recently mysteriously denied from Apple’s iPhone App Store (RAIN coverage here), has been approved according to developer Return7’s website here. No word on why the approval was granted. You can pick the Internet radio app up for $3.99.

FONESHOW OFFERS GEO-TARGETED ADS

Foneshow has announced it is now offering geo-targeted pre- and post-roll ads around its content. “Simply put, a user listening to a program in D.C. will hear a different, localized ad than someone listening in Dallas,” a Foneshow rep told RAIN. Foneshow delivers short-form, talk radio-style programming to nearly any wireless phone. According to a press release, “Foneshow can now provide subscribers with customized sweepers for local affiliates… This feature not only customizes the experience of consuming radio, but allows advertisers to target specific markets or politicians to reach certain congressional districts.”



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