Media Digest 3/28/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, Bank of America (BAC) will pay the president of Countrywide (CFC) $28 million to stay and run the company after the buy-out is complete.

Reuters writes that the chairman of Bear Stearns (BSC) sold all of his stock in the company for $61 million.

Reuters writes that Xerox (XRX) will pay $670 million to settle a securities lawsuit.

Reuters reports that JP Morgan (JPM) is trying to integrate Bear Stearns operations as they begin to fall apart.

According to The Wall Street Journal, Citigroup (C) has hired an outsider to run its huge US consumer bank.

The Wall Street Journal writes that ad-click data for Google (GOOG) was disappointing for the second time in two months.

The Wall Street Journal writes that tech firms holding auction-rate securities are beginning to post write-offs due to their falling value.

The Wall Street Journal writes that AT&T (T) plans to launch a mobil TV service for its handset subscribers.

The Wall Street Journal writes that the number of cellphones with GPS is rising rapidly.

The Wall Street Journal writes that recent numbers suggest that China may have passed the US in total number of internet users.

The New York Times writes that a China anti-monopoly law could hurt Microsoft’s (MSFT) bid for Yahoo! (YHOO).

The FT writes that M&A activity is at a four-year low.

The FT writes that rice prices are up 30% to an all-time high.

Bloomberg writes that Fannie Mae (FNM) and Freddie Mac (FRE) may have to raise $20 billion in new capital.

Douglas A. McIntyre