Media Digest: FT, Reuters, WSJ, NY Times

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According to Reuters, US arms sales overseas will total about $20 billion for the year ending October 1, 2006, about even with last year’s record total.

Reuters writes that, based on consumer acitivity in China and Korea, internet TV is a financial risk of telecom companies, but one that may be very profitable in years to come.

Reuters says that Sony has announced that its holiday sales should be better than expected due to succes with digital cameras and flat panel TVs.

The Wall Street Journal writes that companies with online retail units like Gap and Federated are cutting back on free online shipping to improve margins.

The Wall Street Journal writes that Disney has decided to buy NASN, a London based cable TV group that has rights to MLB and NFL programming.

The Wall Street Journal also writes that Mellon and Bank of New York are merging in a deal worth $15.5 billion.

The Wall Street Journal writes that LSI has agreed to buy Agere for $4 billion in stock.

EADS says that the success of its A350 launch depends on a vast restructuring of the company. Suppliers will be expected to provide some financing and the company will have to cut costs sharply.

The Wall Street Journal writes that Sirius has cut its year=end forecast of subscribers from 6.3 million to a range of 5.9 million to 6.1 million.

The NY Times writes that Carl Icahn’s second bid for realty firm Reckson was rejected.

The NY Times also reports that Medtronic will spin off its defribillator unit.

The FT reports that Pfizer is putting more effort into stategic acquistions after the failure of a major drug trial.

Douglas A. McIntyre