Big Media Aggregated: Disney and News Corp goes shopping

By SDH Disney Interactive Studios (DIS) the game arm of the media and entertainment giant has reportedly agreed to purchase Chinese company Gamestar. DIS general manager Graham Hopper feels good about the deal saying Gamestar will play a significant roll in DIS’s global growth plan. Wonder if Gamestar’s 90 staff members fit into that growth plan? In other shopping news, News Corp’s Fox Networks, the company’s year-old online advertising network will announce today that it has bought control of European video ad network Utarget as part of a move to expand in Europe and Asia. Wendi Deng Murdoch, wife of Rupert is probably the mind behind this strategic swallowing. The Utarget deal comes after U.S.-based Fox Interactive Media (FIM) reorganized staff last week in anticipation of a possible revenue target shortfall. The reshuffling, long in the works, will also see the launch of FIM's long-anticipated U.S. online advertising network, called the FIM Audience Network.

Ross's cousin Peter Levinsohn is about to move things around at Fox Interactive Media

"I am confident that we are moving in the right direction to secure our long-term success, and I am certain that we have the right leadership team in place to take us there" - Peter Levinsohn, President, Fox Interactive Media By SDH Fox Interactive Prexy Peter Levinsohn, cousin of Ross, came into his roll by default when Ross upped and left, or got canned, depending on who you ask. Since taking over News Corp's Internet business, he basically left things the way they were. But we think with FIM reportedly missing their $1 billion revenue target by $100 million, Peter is moving the team around to take some attention of the missed target and to show his bosses at News Corp that he is already making what he thinks are the necessary changes to make sure the company meets the target next time around.

Rupert Murdoch is taking his campaign to win Long Island's Newsday public

By SDH For the first time since it was reported that he was interested in Tribune's Newsday newspaper, News Corp CEO Rupert Murdoch, the most powerful man in media said publicly he thinks Newsday would be a good fit for his tabloidy New York Post. We're not sure how that would go over with Newsday staffers if Murdoch were to land the paper, but we're guessing there would be a lot of bickering on both sides. Exactly how, The New York Post would benefit isn't clear but a Newsday/New York Post link up would allow Murdoch to spread the dishy celeb and business headlines out on the Island. Wait, we just answered the question on how the Post would benefit. After his recent address at Georgetown University in Washington, Murdoch said adding Newsday "will make the New York Post viable and give it a much more secure future". So is Murdoch implying that currently the future of the New York Post isn’t too secure? Is he saying that if a deal like this doesn't happen, we could see the New York Post sold off or come to an end? Such statements can set off an avalanche of speculations. Wonder when Jared "Paperboy" Kushner is going to make his interest in Newsday public?

Newspapers Aggregated: Has young paperboy Jared Kushner joined the pack of vultures reportedly circling Long Island's Newsday?

By SDH The list of potential bidders for Tribune's Newsday is getting longer. Early out it was reported that Rupert Murdoch who seems to want to buy everything was interested in the paper, along with other prominent New York money bags like Cablevisions Chuck Dolan and New York Daily News owner Mort Zuckerman. Now comes word that New York Observer ruler Jared Kushner may have little tingle for the Newsday as well. Tribune is said to be looking for payout in the $500 million region for the paper but there is no word that the company has started to take bids. In other newspaper news, The Wall Street Journal recently swallowed by News Corp, will go on sale in London taking on other business papers like Pearson's Financial Times. The Journal, with an initial print run of around 3,500 copies, will cost 250 pence, well above the 150 pence Financial Times cover price, but not out of line with the price of other non-UK papers sold in Britain. Yeah, like we didn't see this one coming. How long until an Australian version is born?

The other Les speaks

By SDH Dow Jones's new low key CEO Les Hinton, has been relatively silent since moving into Richard Zanino's old office. But with the dust starting to settle, the media industry's other Les speaks about, the effort to make Dow Jones and News Corp one big happy family under one big roof and why it was crazy of them to have spun the idea about taking down the paid wall at The Wall Street Journal's website WSJ.com. "The initial thought was if we were not having a pay barrier, we could grow very quickly and get the resulting advertising. That frankly was probably a little bit simplistic because ... it has over a million subscribers. Without going into detail, we get tens of millions in revenue from it." Hinton signals WSJ-News Corp tie-up [Media Guardian]

Hulu is the 62 inch HD LCD to Youtube’s 32 inch Plasma

BY SDH First off, make no mistake about it. Youtube is where you go for that raw in your face taking no shorts video clip to make you say Wow!, Holy Shit!, Damn! etc. It has set the blue print that many imitators are now trying to follow and some of them have failed, and more will fail. But we have to take our hats off to the guys at Hulu.com. If you haven't heard of Hulu, its because no major effort was really made for you to know about it, but we have no doubt that you will. Hulu.com is not another Youtube copy cat, where anyone with a digital recorder can upload clips whenever they want. You won't see clips removed from Hulu.com because it was uploaded illegally. You won’t see clips of Pilipino prisoners doing the thriller. What you get at Hulu are past episodes of your favorite shows that you may have missed like, "The Office" "24", belly busting SNL clips and full length movies delivered with crystal clear pictures and sound. We do admit that we doubted Hulu and even suggested that had no shot against Youtube. But the truth is Hulu is nothing like Youtube, at least not in our opinion. Once you visit Hulu.com, you're automatically forced to stay because it looks so damn appetizing. Now imagine if and when other networks join in with their content. Hulu will be unstoppable. Wow we can't believe we're saying all this nice stuff about NBC Universal and News Corp's joint venture. We usually give them shit but we know when to give credit when and where credit is due. We are officially putting on our "I'm a Hulu fan" hats and rooting for CEO Jason Kilar and his troops to knock one out the park. Wonder how long until Hulu rolls to it's real business model and start charging a monthly fee? *NBC Universal or News Corp or any of their subsidiaries did not pay us to say these nice things.

BET For Brown People in the UK

BY ZOE S. Viacom's Black Entertainment Television (BET) will launch in the UK via News Corp's BskyB in 8.8 million homes. This is the network's first major expansion overseas. As far as competition, BET execs aren't worried, as there are no direct competitors BET's size in the UK. This is a good move for the cable network under the leadership of Debra Lee but we still think BET has a lot of work to do with their programming style. They also need to continue working on their digital offerings by sniffing out deals that make sense for their audience and their content. "For the U.K. version of BET, we will be giving BET's U.S. content a regionalized look and feel that reflects the U.K. marketplace, and as we grow and develop the channel, we look forward to partnering with the U.K. creative industry to give BET an even stronger British accent," BET's International General Manager Mike Armstrong said in a statement. Viacom's BET to launch in the United Kingdom

NBC Universal's little big man Jeff Zucker who said he is done with the extravagant wooing of advertisers, still wants to woo but in private....

No more big stage topped with a jumbo screen flashing NBC Universal's brands and new show line ups. No more Jeff Zucker walking out on stage to convince advertisers to spend their money. NBC may roll to a whole new kind of upfront where Zucker and his team does one on ones with advertisers. [NYP] Some investors find blogs attractive even if the traffic isn't all that hot [NYP] Finally Disney is buying something, or at least part of something [Reuters] Hey we told you there is a lot media exec can learn from HP CEO Mark Hurd. Rupert Murdoch knows this to and has named him to the News Corp Board of Directors [NYP]

And now this morning's worthy media business news...

News Corp sees a little jump in profits and the future looks bright [NYT] News Corp had their earnings call yesterday with News Corp number two Peter Chernin playing host where he told analysts and investors that the company isn't hurting from ad slumps, in fact Chernin said advertising sales are higher at News Corp's Fox News Channel and the Fox Broadcasting television network, which is offsetting a decline in its movie studio business. The company beat Wall Street revenue expectations of $8.3 billion by $300 million coming in at $8.6 billion. Oh yeah and Myspace is doing great too. Sun-Times Media Group looking at ways to make it's shareholders even richer. One option on the table? Slapping a big for sale sign on the company [NYT] Sun-Times Media Group is looking for an easy way out where all involved can cash out and go on about their business. The company is said to be weighing their options like entering a joint venture, strategic partnership or selling the whole company. Our money is on the latter. The question is who will drop the cash? Microsoft offers a shit load of cash for Yahoo! and what does Yahoo! do? They drop their music subscription business and will replace it with Realnetworks' Rhapsody [Reuters] We thought with the load of cash (over $40 billion) Steve Ballmer and Bill Gates are dangling in front of Yahoo! Founder and CEO Jerry Yang’s face he would be in the trenches with his sleeves rolled up trying to get Bill and Steve to go up to an even $50 Billion. Nope. Instead we get word that Yahoo! is dropping their subscription music service in favor of Rhapsody, a service from RealNetworks. The deal calls for Yahoo! to promote Rhapsody all over its website... DUH! The deal calls for both companies to come up with other music related digital ventures as well YAWN! Did we mention that if you're currently a Yahoo Music subscriber paying the $9 a month you will continue to pay that amount for the new Rhapsody service until Rhapsody dips in your pocket for $15 a month? Do you even care?

And now this morning's worthy media business news...

New York Times: With the New York Post's endorsment of Barack Obama, does this really splitsville for Rupert Murdoch and Hillary Clinton? Their newfound friendship seemingly came to a crashing end last Thursday. There was the headline on the front page of The Post, right next to “Cop Sex Ring,” for all to see: “Post Endorses Obama.” New York Post: Is anyone surprised that Google has injected itself into the whole Yahoo! Microsoft flirting? In a terse broadside of what could be a protracted war, Google's chief legal officer, David Drummond, hammered on concerns about Microsoft's software monopoly and its history of clashing with regulators over antitrust issues. AP: News Corp not interested in Yahoo! and today is earnings report day Apparently people were speculating that News Corp which is still digesting it's acquisition of Dow Jones would be interested in Yahoo! We're sure Rupe and his team looked at the company from a far but we don't see Rupert Murdoch dropping that much cash on anything right now. And besides, Microsoft is offering $44 Billion, way more than Yahoo! is worth right now and word is they are balking at the offer price saying it is too low.

Next week is Super Tuesday earnings report week

-SDH Next week's entertainment line up is looking to be an exciting one. On Monday, News Corp will report its 2nd Quarter Fiscal 2008 results. On this call analysts will be waiting to hear about any plans in the works for the recently acquired Dow Jones as well why they decided to not free up the Wall Street Journal website, DUH! On Tuesday it will be Disney's turn to spill the beans about their First Quarter 2008 Financials. Disney is expected to announce earnings of 52 cents a share on $10 billion in revenue, not too bad Bobby! Can we get some acquisition news soon though? Saving the best for last, Jeff Bewkes will make his debut on Time Warner's earnings call as CEO on Wednesday. We have no doubts analysts are itching for this one. Some of the questions Bewkes and his team are expected to face will include, what are his plans for the oversized company, AOL, Time Inc etc... Oh yeah they are expected to report earnings of 29 cents a share on revenue of $12.6 billion. But we all know analysts will be more concerned about Bewkes's plans for the structure of the company. Media conglomerates seen posting higher profits [MarketWatch]

Media exec that almost drowned Rupert Murdoch's dog and talked a man into stripping during a News Corp meeting, rolls out his second act

-SDH Either Rupert Murdoch has no sense of humor, or Stephen Chao -AKA- Mad Chao was just a waaay out there News Corp exec who knew no boundaries. Stephan Chao with his antics back in 1992 which got him fired would be a breath of fresh air to many companies today. He would probably add some color and character to young media companies. But almost drowning Rupert Murdoch's dog, that's just a little over the line for us. Anyway Chao after a long hiatus is back with a new website which he hopes to build into an educational alternative to YouTube. Now Chao can do all the showboating he wants, especially if the site is a hit. Wouldn't it be funny if Rupert Murdoch ends up investing in Wonderhowto.com? The site, WonderHowTo.com, aggregates how-to videos, from the mundane (like “how to tie a tie” and “how to market your lawn care business in the winter”) to the strange (“how to do Criss Angel’s vanishing toothpick trick”) and the off-color (“how to train your cat to use the toilet” and beyond). TV Showman, Once Exiled, Returns With Video Site [NYT]

Rupert Murdoch wants the Wall Street Journal a little closer to him

-SDH The Observer is reporting that Rupert Murdoch may be moving some Wall Street Journal staff out of the financial district and sticking them in midtown in the News Corp building. Of course the people moving to the News Corp building would be on the editorial side so that Rupe can keep a close eye and/or hand on things. If such a move does take place, isn't Rupert just adding fuel to allegations that he moonlights as the Editor in Chief of is newspapers? One senior newsroom source with knowledge of the situation said that the move was "very likely" and it's something that Mr. Murdoch has been "strongly considering" for some time. Another source confirmed it should happen by the end of the year. More....

Rupert Murdoch wears many hats at News Corp, he is CEO and according to Andrew Neil, Editor in Chief of the Sun?

"If you want to know what Rupert Murdoch really thinks read the editorials in the Sun and the New York Post because he is editor-in-chief of these papers" -SDH Was Sun Editor Rebekah Wade talking all over her mouth when she said Rupert Murdoch doesn't interfere with the editorial direction of the paper? Or is former Sunday Times editor Andrew Neil talking all over his mouth by saying that Murdoch Interfered so much that he is basically the Editor of the Sun? Either way who would be shocked? Andrew Neil is probably trying to get some media face time even though his claims may not hold water due to the fact that he hasn't worked for the paper for over a decade? Why is the Lords committee even hearing what Andrew Neil has to say. The guy can't remember anything, and besides he isn’t telling us anything we don’t already know. Rupert Murdoch’s biggest fuck up as Editor in Chief of the New York Post was this.

In his father's shoes

BY SDH Lachlan Murdoch is taking a page out of his daddy Rupert's book and is building his media empire, one newspaper paper at a time. According to published reports the former New York Post Publisher and deputy Chief Operating Officer of News Corp has teamed up with Australia's richest man James Packer to acquire publishing company Consolidated Media Holdings for a cool $2 billion. Is Lachlan finally pulling the curtains up on his grand comeback plan? Word is an official announcement will be made later on today.

Turkey plans to spread em for big foreign media companies

-BY SDH Turkey planning to bend over and allow foreign media companies to own bigger chunks of Turkish broadcasters. A draft law written and submitted to the Prime Minister's office would open the gates for people like Rupert Murdoch to up his stake in media properties in the country. Murdoch is already said to be one of many media bigs kicking the tires on ATV-Sabah. If and when this law does pass, will other major U.S. media companies show interest in entering and/or expanding in the Turkish media market? A young population, coupled with annual economic growth seen around 5 percent makes the Turkish media market attractive to investors. A population of more than 70 million speaking the same language is also a plus for advertisers, analysts say. Turkey plans to lift foreign media ownership limit [Reuters

News Corp Aggregated: Hillary Clinton's unflattering campaign's unflattering coverage | Monster.com, not Linked-In on Rupert Murdoch's mind?

-SDH It looks like all that speculation about News Corp being in talks with the folks at business social networking site Linked-In is just that, speculation at least for now. Well there is new speculation again, but this time it involves job search engine Monster.com. According to seekingalpha.com, Murdoch sent a letter to the Monster.com board offering them $4.8 billion for the company. Sounds familiar right? Yeah, he took similar route when he went after DowJones. But is this rumor, just a rumor or is this really happening? seekingalpha.com fails to spark any sense of "WOW! this may happen" They only mention that Sal Iannuzzi was hired as Chairman and Chief Executive Officer of Monster.com back in April 2007 to reportedly set the company up to be sold, apparently because he's a wiz at selling companies or something. He sold a company called Symbol Tech Whooohooo! Like every other rumor, this is a wait and see. After all, News Corp is still chewing on their recent $5 Billion take over of Dow Jones. [seekingalpha.com] Presidential Candidate Hillary Clinton should join the line of people who holds a grudge against Rupert Murdoch. Apparently Hill is kinda ticked off at the coverage The New York Post gave her during the New Hampshire debates. Is that what she was really worried about? [Newsbusters]

News Corp's low key number two, Peter Chernin: The Economy? The Strike? No biggie for us

-SDH Call them Teflon News Corp because according to President and Chief Operating Officer Peter Chernin, he isn't worried about the Economy or the writers strike affecting any of News Corp's businesses. Sure Wall Street firms have sent out warnings about some media sectors but, Chernin must have seen it all coming because he said News Corp is in good shape to withstand it all. Maybe Chernin who we expect to be out as News Corp Prexy next year, should meet with his counterparts at other media companies and share his secrets with them. "We are seeing no signs of any slowdown in our business," Chernin said at a Citi conference in Phoenix, Arizona, adding the company was "not unmindful" of wider economic troubles. Obviously we live in the world, and Rupert lives in the world, and God knows I'm sure everybody here is buzzing about the economy and where we're headed," he said in a presentation broadcast over the Web. News Corp's Chernin sees no slowdown from economy [Reuters]

Rupert Murdoch re-invests in company he lost $1 billlion on earlier

The man just continues to expand his reach it seems like every month or something like that. Media King Rupert Murdoch has swallowed a 14.6% stake in German pay-TV operator Premiere for for a reported $214 million just five years after losing $1 billion in an earlier investment in the same broadcaster. It looks like Rupe did a pull out and step back after losing that $1 billion and now that things are looking a little more firm, he is back with a fresh investment. Back when he lost the $1 Billion, King Rupe described it as a black eye. But today he is singing a new tune. -SDH "Pay-TV is a core business for News Corporation and it's a category that's thriving across Europe with a multitude of new services and innovations," Rupert Murdoch said. We see enormous potential for growth in Germany and believe the time is right to invest in its foremost pay-TV business, Premiere." News Corp buys stake in German pay-TV firm [Guardian]

ABC on CNN: Politics brings CNN and ABC News together

Either CNN Prexy Jon Klein had nothing for the 7-8pm time slot tonight, or he loved the New Hampshire debates that ABC News broadcasted so much he had to air it on his network. Dian Sawyer was even on CNN which was kinda weird. In an interview CNN's Jon Klein said that he believes the lines between media giants are slowly being erased and CNN airing ABC's content is just another step forward in the no barriers direction. Now we can start speculating about some kind of deal in the works and this is just a public test run, but we won't. Jon Klein spoke about how the whole thing came about saying, he called his good buddy David Westin, who is President of ABC News who was getting on a plane to head to New Hampshire and asked if he could re-air the New Hampshire debates and it was a go. Is this really where big media is headed? Will we see Jeff Bewkes calling Sumner Redstone asking if he can air Nickelodeon content on the Cartoon Network? Or Rupert Murdoch calling Jeff Zucker at NBC asking if he could air Mad Money on Fox Business Network? Ok so that’s a stretch. But is no barrier, media industry workable where media companies trade content? Sure media companies buy syndication licenses to air shows of other networks that are no longer on the air but that’s the norm. What was the agreement on the back end of CNN airing ABC's New Hampshire debates? Is ABC News getting a cut from Ad revenue or was it just an agreement between two friends, CNN's John Klein and ABC News's David Westin. -SDH

Rupert Murodoch's Fox Business network fell flat in its first months, but that’s normal for a new cable network or something like that

-SDH Would the suits at News Corp say that Fox Business News met their expectations or fell short of them? Rupert Murdoch's invasion of CNBC's turf may not have had the shock and awe we think some at News Corp thought it would. Fox Business News prime time averaged 15,000 viewers in the nine weeks through the week of December 16. Rupert Murdoch says he expects the network to reach 40 million U.S. homes in this year. But we doubt Rupe is worried about it. "The launch of any new cable network in this environment -- the numbers are going to be very small starting out, regardless of whether it's coming from a big media conglomerate or not," said Brad Adgate, senior vice president of research at Horizon Media, who tracks media trends. Fox Business draws few viewers in first months [Reuters]

Will web viewsers touch MC Hammer's Dancejam.com?

-CHUCK CARLINVILLE- TECH & MEDIA CONTRIBUTOR The biggest rapper of all time back in the 90's MC Hammer who burned through millions of dollars supporting everyone in his hood, is now trying his luck via the Internet with a new start up called DanceJam.com. The former rapper who serves as Chief Strategy Officer already landed $1 Million in start up capital. Hammer may be on to something here. Rupert Murdoch may one day take notice and want to slap DanceJam together with K-solo.com, the karaoke website News Corp swallowed a little while back. The Web site, scheduled to debut in mid-January, will try to upstage YouTube and become the Internet's hub for sharing and watching dance videos. DanceJam then hopes to make money by grabbing a piece of the rapidly growing Internet advertising market, which is expected to rake in $27.5 billion in 2008, according to eMarketer. MC Hammer's next act: Tech entrepreneur [AP]

News Corp's Harper Collins hopes to see even more $ from Benazir Bhutto book now that she is dead

-YOSH Maybe the bookies at Harper Collins were holding out to see if Benazir Bhutto would have been successful in the Pakistan elections, before releasing the manuscript submitted to them by the slain former Pakistani Prime Minister in the form of a book. Then again like Bhutto herself, they probably knew it was only a matter of time before someone offed her. Now the company is rushing the book to press for no other reason but to catch buzz sales. Harper Collins hopes to have Bhutto's "Reconciliation: Islam, Democracy and the West" in bookstores by February, Post business columnist Keith J. Kelly reported. The Post is also owned by Rupert Murdoch's News Corp. HarperCollins rushing Bhutto-written book [Reuters]

News Corp begins to offset cost of Dow Jones

-RAY After recently dropping over $5 Billion on Dow Jones, News Corp has already begun the offsetting process. The company announced that it sold off 8 television stations for $1.1 Billion. This comes as reports are popping up about a possible sale of Harper Collins to the book loving Germans at Bertelsmann AG News Corp said in a statement Saturday the deal was expected to close in the third calendar quarter of next year. The sale of the Fox affiliate stations in small markets will leave News Corp with 27 stations in major markets including New York, Boston and Los Angeles. News Corp to Sell 8 TV Stations for $1.1 Billion [CNBC]

Bertelsmann Aggregated: Bertie and News Corp | Bertie to sell G&J | Bertie flip flops on RTL buyout plan | Mohn family still controlling

-YOSH German media giant Bertelsmann continues to prove us right when it comes to their flip flopping ways. They had this huge plan to buy the remaining 10% of RTL it doesn't already own, and what do they do? They scrap it. These fuckers just can stick to a plan can they? [Guardian] Is Bertelsmann in some kind of back door deal with News Corp to take over News Corp's Harper Collins? If this is the case, the book business must be really big for Bertie and Rupert Murdoch must be looking to offset the cash he dropped on Dow Jones. A sale of Harper Collins by News Corp would probably be good for News Corp as HC is responsible for a small chunk of News Corp's annual revenue. [Reuters] Is Bertie planning to get out of the magazine business by seeking a sale for G&J? They sold the U.S. business of G&J a while back so it wouldn't be a surprise. Selling off the magazine and buying into more books, does indicate that books is king at Bertie [Bloomberg] The Mohn family which controls Bertelsmann are nothing like the Bancrofts. There is probably no money in the world that would make them hand over their personal piggy bank that is Bertie. They continue to tighten their grip on Germany's biggest media company. The latest grip tightening comes with the appointment of Brigitte Mohn to its supervisory board. [Bloomberg]

Chemical Explosion at News Corp HQ, which Bancroft family member went off their rockers?

Here>>

The News Corp Ad

News Corp dropped $2 million (pocket cash) on an advertising blitz showing off it's accomplishments over the years including yesterday's official takeover of Dow Jones. here is the ad that's running in participating papers.

Rupert Murdoch on his plans for the Journal, its competitors and what he would have done if he was the Financial Times

-SDH Moments after he officially took control of Dow Jones, Rupert Murdoch did what any other media mogul who owns a cable business network would have done, he stopped by his Fox Business News studios for a sit down with FBN lead anchor Neil Cavuto. In his strong Aussie twang, Rupert speaks of what’s to come for the Wall Street Journal and Dow Jones. Rupe totally forgetful of the fact that with the Thomson-Reuters merger Dow Jones will have to work double time to become a prominent player in financial information says he wants it to be the preeminent source of financial news and information. Asked by Cavuto if he bought a dinosaur Rupert of course did not and does not believe that. We look forward to what’s coming.

Rupert Murdoch wants to celebrate but not everyone is in the mood for celebrating

-YOSH Rupert Murdoch and his News Corpians are so happy that they finally got the keys to Dow Jones, they plan to celebrate via a $2 million ad campaign set to go live tomorrow touting the company's accomplishments. The company bought up ad space in major newspapers but not all of them want to share in Murdoch's joy. The Financial Times and the China Daily - have so far declined to run the in your face ads,but that won't stop News Corp from sharing their joy. News Corp. official said it was the first time the company has done branded advertising. Spanning three pages and playing off Dow Jones' motto, the headline is "Free People, Free Markets, Free Thinking," and trumpets Murdoch's convention-challenging accomplishments over several decades. Those include the launches of the Sun tabloid and BSkyB satellite broadcasting in England, the creation of Fox television (and The Simpsons) in the United States, the Fox News Channel, and the purchase of MySpace two years ago. "It's the first time we've given the company a narrative that expresses how we've gone against convention in providing greater choice and diversity in entertainment and information to consumers around the world," said a company insider. What better way to rub your accomplishments in the face of your competitors but taking out ads in the very papers your fellow media CEOs probably read. WE LOVE IT! Murdoch ad squelched by FT, Chinese daily [Fortune]

NON-SHOCKER: Dow Jones board backs sale to News Corp

Shareholders Back Dow Jones Sale [NYT]

News Corp’s Peter Chernin out in 2009

-YOSH It’s definitely looking like long time News Corp Prexy and Chief Operating Officer Peter Chernin will be out of a job in about 2 years or less. James Murdoch' the youngest son of Rupert, was upped last week to rule over his daddy's overseas operations and many see it as the set up for when Peter Chernin's contract expires in 2009. Based on this, Pete Chernin's days at News Corp are numbered. We wouldn't be surprised if he ended up leaving before then. No wait we take that back, that would be going against his contract and may cost him millions. So is James Murdoch ready to take over one of the world's premier media companies? There is a huge possibility that this won't happen for a few more years even after Chernin is out, because Rupe still has some juice in him and may hold on to the CEO title so he can groom James to be the biggest shark in the tank. If and when James does land in Peter Chernin's office, we expect to hear about some resignations immediately following his appointment by daddy. We just hope Peter Chernin wasn't naive enough to think that a man with two grown sons who both worked in the business would have chosen him to take over as CEO because he is the company's number two.