Media Digest 6/4/2007 Reuters, WSJ, NYTimes, FT, Barron's

According to Reuters, Palm (PALM) will sell 25% of itself to Elevation Partners.

Reuters writes that Hearst-Argyle (HTV) will supply Google (GOOG) YouTube with programming under a revenue-sharing partnership.

The Wall Street Journal writes that Ruport Murdoch might make some guarantees of editorial independence if Dow Jones (DJ) agrees to his acquisition offer.

The WSJ also writes that Apple’s (AAPL) new iPhone will launch on June 29.

The WSJ reports that its new Sony (SNE) Blu-ray high definition will come to market with a price $100 less than was expected.

The New York Times reports that software maker Cadence Systems (CDNS) may be sold to private equity interests.

The New York Times writes that phone equipment company Avaya (AV) may be sold to private equity or a strategic buyer.

FT reports that India car company Tata Motors is launching a car that will cost less than $3,000.

Barron’s writes that GE’s (GE) stock is undervalued and may be worth $50 a share.

Douglas A. McIntyre