Today in business: 5 things you need to know

1. ESPN PLANS TO ABANDON 3D

Though it won't give up on the possibility of trying again in the future, ESPN plans to end 3D broadcasting by the end of the year. The technology required the use of 3D glasses, which viewers seem reluctant to wear at home, and many who bought the technology complained the 3D effect didn't add enough to the viewing experience. Instead, the company is looking into UltraHD, which it reportedly will have running by the time of the World Cup in 2014. [Wall Street Journal, Gizmodo]

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2. GOOGLE EXPLAINS HOW IT TRANSFERS DATA TO FEDERAL OFFICIALS

As the debate over the government's PRISM program rages on, Google released a statement Wednesday detailing how the company handles requests from the National Security Agency. "When required to comply with these requests, we deliver that information to the U.S. government — generally through secure FTP transfers and in person," said the search giant. "The U.S. government does not have the ability to pull that data directly from our servers or network." [Washington Post]

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3. MARK ZUCKERBERG MEETS SHAREHOLDERS FOR THE FIRST TIME

At Facebook's first annual shareholder's meeting, Mark Zuckerberg took 30 minutes to answer questions from disgruntled shareholders. One used the microphone to call the stock a "disaster," and another said he only invested in the first place because his family was a "huge fan" of Zuckerberg. The CEO admitted he is disappointed with the stock price, but added, "Nothing in that has made me think that the fundamental strategy is wrong." [Wall Street Journal]

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4. IBM TO BEGIN CUTTING JOBS IN THE U.S.

After a disappointing first quarter report, IBM started a global lay-off program this morning, targeting all levels, from the common worker to the top brass. The company will spend $1 billion to trim somewhere between 6,000 to 8,000 jobs. "Change is constant in the technology industry and transformation is an essential feature of our business model," IBM said in a statement. "Consequently, some level of workforce remix is a constant requirement for our business." [Bloomberg]

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5. TIME WARNER BRIBES MEDIA COMPANIES TO KEEP SHOWS OFF-LINE

Time Warner Cable and other TV operators are offering media companies incentives to keep their shows off-line, say sources. Incentives range from higher payments to threats to drop programming if companies don't comply. "It's in everybody's mutual interest that we are protecting the ecosystem in a way that continues to keep the value of that programming that we have and the way it's delivered to our subscribers today," Charter Communications' Chief Financial Officer Chris Winfrey said at the conference yesterday. [Bloomberg]