NEW YORK — When Google announced its plans to fund some 100 new channels of original programming on YouTube, many expected a transformation in television. Google had disrupted other industries and TV appeared to be next in line. The YouTube channels were trumpeted as the next iteration in television: Just as a handful of networks begot a few hundred cable channels, YouTube would now foster the birth of thousands of channels online. Though a year later, such a cultural sea change isn't palpable. YouTube's developing platform of original programming is gradually taking shape, building steadily into an enormous, global video ecosystem.
Best Buy names new CFO
NEW YORK — Consumer electronics chain Best Buy says a former Williams-Sonoma executive will become its new chief financial officer beginning Dec. 10. It's the latest executive move for the Minneapolis company since turnaround expert Hubert Joly joined as CEO in August. Best Buy is trying to reverse a decline in its business due to a weak global economy and tough competition from online stores. Fifty-year-old Sharon McCollam had been chief operating officer and chief financial officer at the home goods retailer before retiring. She will also take the title of chief administrative officer. Best Buy Co. shares rose 3.1 percent to $15.77 in morning trading.
From Staff and Wire Reports