Entertainment Money Blog

The stock rose $5 from its initial price of $38 a share, indicating just how strong demand is for the company, especially from individual investors who largely couldn’t buy shares at the initial public offering price. The stock’s initial price was set Thursday after the market closed at the high end of its expected range.

At its current stock price, Facebook is being valued at $121 billion, which makes it worth more than Amazon.com, McDonald’s, Cisco Systems and Visa. The company raised $16 billion in the IPO. It could raise more, up to a total of $18.4 billion, if the company’s investment bankers utilize an overallotment option reserved to satisfy additional demand.

The stock trades by the symbol FB on the Nasdaq exchange. Trading was expected to begin trading at 11 ET Friday. But trading was delayed as market makers attempted to match buying and selling interest to arrive at a valid opening price.

The strong first-day debut, coming just after the initial per-share price of shares and number of shares being sold was increased this week, shows just how high investors’ expectations are for the fledgling company.

The rich valuation for the company comes as it tries to cement its role in the Internet, as contributions by users and their interactions with each other become more important. Facebook has taken the lead by grabbing hundreds of millions of users, but still has much to prove in finding ways to boost the profit it earns from those users.

Man how can I be down? Shoot I got $5.00 on it!

Hip-hop performer and entrepreneur extraordinaire Pharrell Williams is expanding his empire to incorporate a new social media program that is geared toward folks who are in the arts, such as musicians, filmmakers, and designers, reports Variety.

The new content-driven venture, “I Am Other,” is said to be patterning itself after the mega-popular social media king Facebook, among others.

The lead vocalist and drummer of the famed hip-hop group N.E.R.D. named his latest Internet business after his record label, which he founded last August, and partnered with entertainment producer United Entertainment Group.

Read more HERE…

Tia Mowry -Hardict and Pooch Hall are officially done playing ‘The Game’.   It has been confirmed that they will not be returning  to the show for the 6th season.  The Game started with Melanie and Derwin playing the central characters so now many wonder how the show will continue on without them.

Read more HERE…

Let us know what you think!

Football legend Deion Sanders has been ordered by a Texas court to pay his estranged wife Pilar Sanders $10,500 per month in child support for their three children and $275,000 to cover her legal fees.

Sanders learned in court Tuesday that despite the hefty monthly fee, he was will not have to pay spousal support, according to TMZ.com. Pilar was also ordered to return six containers of Deion’s property by July 1, the website reported.

Deion Sanders, 44, filed for divorce from Pilar, 38, in December after 13 years of marriage. The couple had continued to live together with their children in their sprawling mansion outside of Dallas, despite the divorce drama. Pilar reportedly has a home in Celina, Texas.

The two have reportedly worked out a schedule for visitations rights with their kids. A full custody hearing is scheduled for later this month.

A domestic dispute broke out between the couple April 23  at the family’s  $5.7 million Prosper, Texas, mansion that ended with Pilar held in jail overnight on a misdemeanor assault charge and her husband cited, also for  misdemeanor assault.

Texas State District Judge Ray Wheless last week ordered Pilar to stay 500 yards away from the family’s home and gave Deion temporary custody of the couple’s two sons and daughter, pending a full custody hearing. The judge also ordered that the children undergo psychological counseling.

Sanders, who became known as “Primetime” during his college and NFL days and was an icon in the Dallas area during his five seasons as a cornerback with the Cowboys, has frequently taken to Twitter as the bitter divorce has unraveled. He seemed contemplative in a recent posting.

“God is good Good is faithful God is who he says he is. Don’t ever doubt him. Truth,” he posted at 6 p.m. ET Tuesday.

THE MUSIC CHARTS DECODED

Every week, Frequency News will take a close look at what is going on with the Urban Mainstream, and Urban Adult radio airplay charts AND the album sales charts from the previous week. We will keep track of what is happening with your favorite music so that you don’t have to!

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TOP 10 songs played on URBAN RADIO stations across America the past week!

Rihanna Stays On Top; LoveRance and Cash Out Switch Places

* Rihanna stays in control of the top spot with “Birthday Cake”

Week of  May 6  - May  12, 2012

Check out whats playing this week on the Radio One radio stations across the country.

Radio One, Inc. is the largest African American media company in the U.S. Owning and operating 53 stations in 16 urban markets in the United States!

Here is the TOP 10 Songs being played on Radio One stations right now!

 

 

 

 

 

 

Rank	Artist	Title
1	RIHANNA	Birthday Cake
2	FAT JOE	Another Round f/Chris Brown
3	USHER	Climax
4	NICKI MINAJ	Beez In The Trap f/2 Chainz
5	KIRKO BANGZ	Drank In My Cup
6	CA$H OUT	Cashin’ Out
7	BEYONCE	Love On Top
8	TREY SONGZ	Heart Attack
9	TRAVIS PORTER	Ayy Ladies f/Tyga
10	JILL SCOTT	Blessed

Abbreviated chart. See Mediabase.com for full chart and detailed information.

To see the Radio One stations that make up this panel of Top 10

Visit Radio-One.com

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