Cablevision's bold plan to purchase Newsday will test as never before the concept – and the economics – of the hyper-consolidation of local media by a single company. Don’t count on it succeeding.

According to AP report published in Yahoo! News the later is exploring alliance with News Corp.

News Corporation announced today that it will sell eight of its owned-and-operated FOX network affiliated television stations to Oak Hill Capital Partners for approximately $1.1 billion in cash.

The long awaited and talked about Youtube rival, Hulu, is finally here, or at least for some it is, as News Corporation and NBC began testing their site publicly Monday.

Bancroft Family Members Holding Approximately 37% of Dow Jones' Voting Power Agree to Support the Transaction.

Dow Jones & Company (NYSE: DJ) announced that the Board of Directors of Dow Jones has determined that it would be prepared to approve, and recommend to the Dow Jones stockholders, including the Bancroft Family stockholders, a merger agreement reflecting News Corporation’s proposal to acquire all of the outstanding shares of Dow Jones’ common stock and Class B common stock for $60 per share in cash.

General Electric Co. announced this Thursday that it has abandoned talks with Financial Times publisher Pearson PLC about a possible bid for Dow Jones & Co., removing a potential rival to a $5 billion offer from Rupert Murdoch's News Corp.

The Times newspaper reported overnight that Rupert Murdoch's News Corporation has discussed swapping social networking site MySpace with internet giant Yahoo in return for a 25 per cent stake in the group.

The Wall Street Journal, whose parent Dow Jones & Co. is the target of a $5 billion takeover offer by News Corp., is set to shake up its newsroom by reassigning and replacing several top editors, The New York Times reported in its online edition on Tuesday, according to Reuters.

Dow Jones reports that owner Bankcroft family has agreed to meet with News Corporation discuss the proposal that Rupert Murdoch of News Corp had recently offered to buy Dow Jones Company.

News Corporation today confirmed that it has made a friendly offer to Dow Jones & Company to acquire all of the outstanding shares of the company for $60 per share in cash, or in a combination of cash and News Corporation stock.