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Monday, August 07, 2006

Media Digest 8/7/2006


According to Reuters, BP will shut 8% of its US oil output due to a spill in Alaska's Prudhoe Bay. The leak is reported to be small but the action sent oil prices up 2%.

The Wall Street Journal reports that several option grants to executives at Apple were given just before the stock jumped in the period between 1997 and 2001.

The Wall Street Journal reports that Kindred Healthcare and AmerisouceBergen are close to a deal to combine their two institutional pharmacy units into one publicly traded company. The new company would have a market cap estimated to be over $1 billion.

Reuters reports that Google and Viacom have signed a pact to distribute video clips from the MTV network over Google's AdSense network. The clips would be supported by television-type video ads.

The Wall Street Journal reports that tech company Affiliated Computer Services is backing off claims that its options problems were only minor. The company said that investors could not count on its previous disclosures on the matter.

The WSJ writes that the delay in a decision by the FDIC over whether Wal-Mart can set up banks in its stores has postponed the ability of other institutions to enter the field. This includes Home Depot, GM, and Blue Cross/Blue Shield of California.

The New York Times writes that Time Warner, Comcast, DirecTV, and Echostar will be among the companies bidding in the governments multi-billion auction of radio spectrum. The technology allows voice and data to be sent over the airwaves.

Douglas A. McIntyre

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