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Thursday, September 28, 2006

Media Digest 9/29/2006 Reuters, WSJ, NYT

Stocks: (GM)(F)(DIS)(WMT)(NOK)(NWS)(VZ)(FD)

According to the Wall Street Journal, GM and Renault agreed to talk about a possible alliance until a deadline on October 15.

The WSJ say Disney unit ESPN Mobile will shut down. Instead of branded phones, ESPN will probably license its content to other big carriers.

The WSJ writes that Wal-Mart will cut benefits to new workers promoting a low-premium, high-deductible plan.

The WSJ writes that Nokia is increasing its effort to launch phones that will play music and allow users to watch video. The company spends about $1 billion a year to develop high-end multimedia phones.

According to Reuters, MySpace could be worth close to $15 billion in three years measured in terms of the value created for its parent News Corp.

Reuters writes that Verizon will spends a total of about $23 billion to build out its fiber-to-the-home initiative. Some analysts are concerned that this will sharply increase the phone company's capital spending next year.

According to the New York Times, if Carlos Ghosn, head of Nissan and Renault, cannot strike a global alliance with GM, he may approach Ford.

The New York Times writes that Carl Icahn is putting about $500 million into the stock of retailer Federated.

Douglas A. McIntyre

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