Blinkx, has tabled a $41 million bid for Miva, the US pay per click / search based advertising network as the company looks to expand its online advertising operation. Blinkx is an online video search engine (it claims the largest on the web) and so the acquisition of Miva would compliment its operations. The claim is not unfounded as it currently attracts over 5 million searches per day, making it more popular in the UK than Google Video. (more…)

Scottish Media Group (SMG) has sold Virgin Radio to an Indian group led by the Times of India (TIML). The sale price of £53m is less than a quarter of the amount SMG paid for the radio station. A spokesman for the Indian group regards this as an excellent time to enter the UK media market and in particular by purchasing a good brand in the sector. (more…)

Microsoft has sent a letter to the Board of Yahoo with a request to buy the search engine company in a deal that would be worth over £22bn.

Yahoo and MSN have been struggling to compete with Google, who continues to dominate the search engine market and consequently gets the lions share of of associated advertising revenue. Steve Ballmer, the chief executive at Microsoft believes the combined entity would offer serious competition to Google and also benefit consumers, publishers and advertisers.

Yahoo has yet to respond but the market views the deal favourably and shares in Yahoo rose 54% on the news.