By JP Mangalindan
September 13, 2010

A round-up of the companies, deals, and trends that made headlines.

Every day, the Fortune staff spends hours poring over tech stories, posts, and reviews from all over the Web to keep tabs on the companies that matter. While that’s our job — awesome, right? — we realize our readers may not have the same luxury. To save you the trouble, we’ve assembled the weekend’s most newsworthy bits below.

  • With a traffic increase of 165% year-over-year, MTV has surpassed Vevo and MySpace Music as the number one online music hub. And as online video become an increasingly larger component in overall Internet usage, musicians are learning to adapt to the new format.

  • Former Nokia CEO Olli-Pekka Kallasvuo isn’t the only top-level exec at the phone company to go: Anssi Vanjoki, head of Nokia’s Mobile Solutions, is also leaving and longtime board chairman Jorma Ollila could step down after the company’s general meeting in 2012.
  • HP is (HPQ) is close to acquiring security software maker ArcSight (ARST) for approximately $1.5 billion, or $43 a share.
  • The F.C.C. may approve a further expansion of unlicensed airwaves, which could result in extended broadband coverage to bypassed rural areas, wireless Internet without dead zones, and smart electric grids.
  • The European Commission may back a plan this week to reallocate a large chunk of the broadcast spectrum used by TV stations to mobile operators by January 2013. This could one day lead to a single wireless broadband market that crosses national borders.
  •, the leading Web domain registration service, is up for sale and could fetch over $1 billion. The service reportedly raked in between $750 and $800 million revenue last year.
  • Yahoo! (YHOO) is revamping its email service because of stiff competition from Windows Live Hotmail and Gmail. Though Yahoo Mail remains the number one Web-based email service in the U.S. with 97 million unique visitors last month, that’s 10 million less than the same time last year.
  • Garmin (GRMN) CFO Kevin Rauckman says the GPS-making company may back out of its smartphone business within the next six months if it can’t be turned around. He blames underperformers like the Garminfone and nuvifone lines, which generated just $27 million in sales last spring, as the reason.
  • Writer Vivek Wadhwa, a Visiting scholar at UC Berkeley, wonders whether Russia can build its own Silicon Valley. (The answer? Yes, if the country leverages its strengths.)

You May Like