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Monday, August 21, 2006

Media Digest 8/21/2006

Stocks: (EZM)(DCX)(SNDK)(CDL)(DIS)

According to Reuters, EuroZinc and Lundin Mining will merge in stock deal that will creat a metals company with a market cap of $3 billion.

Reuters writes that a German court has ordered DaimlerChrysler to pay former shareholders of Daimler-Benz money in a dispute over the value of the company during the merger with Chrysler in 1998.

Reuters writes that Anglo American, the world's third largest miner could be facing a break up bid from some of its competitors. Quoting the London Observer, the bid could be made by Brazil's CVRD, Swiss-based Xstrata, and Rio Tinto. The value of the break up could be $80 billion.

Douglas A. McIntyre

According to the Wall Street Journal Sandisk will cut its prices on it digital media player to more effectively compete with the Apple iPod. The new player would hold 2000 songs, about double the capacity of the similarly priced product from iPod.

The WSJ writes that Citadel is trying to renegotiate terms of its purchase of Disney's radio assets because of deteriorating performance at ABC radio.The broadcasting company agreed to pay $2.7 billion in stock and cash, but with a 27% slide in its share price, it could be forced to pay Disney much more based on a clause in the purchase agreement.

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