MSNBC.com, which is a joint venture (JV) between Microsoft (NASDAQ: MSFT) and GE (NYSE: GE), has been around for about 11 years. Interestingly enough, the JV hasn't struck any acquisitions – that is, until now.

MSNBC has agreed to buy social media site, Newsvine (the price tag was not disclosed).

In fact, Newsvine has only five employees and raised a mere $1.5 million in venture capital. Yet, the company certainly is efficient. After all, the growth has been strong and the website gets about 1 million unique visitors per month.

Then again, Newsvine leverages the power of its community. Users can vote and comment on articles, which creates lots of frequency and loyalty.

What's more, Newsvine will keep its identity, which is smart. It's often the case that a big organization can dampen innovation.

But, I'm sure we'll start seeing some cross pollination, such as placing Newsvine features on MSNBC.com.

And, if you want to check out other recent M&A transaction, click here.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements.

"Investors have shied away from the big telcos in recent years because of concerns that their traditional businesses were shrinking," notes George Putnam III, an expert in uncovering turnarounds.

But now, he explains, "After years of concern about the cable companies invading their turf, the big telecoms are now well positioned to fight back."

In his The Turnaround Letter, the advisor looks at seven leaders in the global telecom space, all of which he says represent global leaders, with dominant positions in their local markets and the "potential to grow steadily by expanding the services they offer."

AT&T (NYSE: T) Putnam notes, gained control of Cingular Wireless due to its merger with Bellsouth. The renamed AT&T Wireless, he says, will account for about 35% of AT&T's revenues.

The advisor observes, "In addition to a strong wireless presence, AT&T is rolling out fiber-based landline services. With revenues expected to be north of $120 billion in 2007 and substantial operating cash flow, AT&T is a force to be reckoned with." Further, he notes, the dividend was just raised for the 22nd consecutive year, and the company is expected to repurchase roughly $7 billion worth of stock in 2007.

As expected, General Electric Co. (NYSE:GE) Chief Executive Jeffrey Immelt is starting to open up the company's checkbook.

The company said earlier this morning that it would buy the aerospace business of Smiths Group Plc. for $4.8 billion. GE and Smiths also will combine their homeland security units in a joint venture, Smiths GE Protection, that will be 64 percent owned by Smiths and chaired by its CEO Keith Butler-Wheelhouse, Bloomberg News reported.

General Electric, which doesn't expect this acquisition to face the same opposition as the Honeywell International merger did in 2000, is planning to make $7 billion in non-financial mergers this year, Bloomberg said.

So what's next on General Electric's shopping list? How about a nice little industrial concern? What about a promising medical technology startup, or something to boost NBC Universal? The point for investors though isn't where GE spends its money as much as how it does it.

Long before the annoying NBC program became a hit, General Electric perfected the game "Deal or No Deal." The Fairfield, Conn., company doesn't overpay for acquisitions and looks for deals that compliment existing businesses.

--Jonathan Berr is the editor of http://www.desperateinvestors.com