Media

Media Digest (12/22/2011) Reuters, WSJ, NYT, FT, Bloomberg

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Yahoo! (NASDAQ: YHOO) is working on a deal with Alibaba to sell part of its stake in the Chinese company. (Reuters)

Toyota (NYSE: TM) expects record sales next year of 8.48 million, up 20% from this year. (Reuters)

Bank of America (NYSE: BAC) will pay $335 million due to a lending bias charge against its Countrywide operation. (Reuters)

Fitch warns the U.S.’s AAA rating is under pressure because of debt load. (Reuters)

EU antitrust officials have not been convinced by arguments that the NYSE Euronext (NYSE: NYX) and Deutsche Boerse should merge. (Reuters)

A study by Exane BNP Paribas shows that only a few people in Europe would buy the new Nokia (NYSE: NOK) Lumia smartphone. (Reuters)

Airbus should deliver 1,600 planes this year, which would significantly push down the market share of Boeing (NYSE: BA). (Reuters)

Hundreds of eurozone lenders have tapped the European Central Bank for $640 billion in low interest loans, a sign of trouble in the financial sector there. (WSJ)

Former Avon (NYSE: AVP) CEOs James Preston and David Mitchell say they are upset that current CEO Andrea Jung will stay as executive chairman after she steps down as CEO. (WSJ)

American Express (NYSE: AXP) looks at businesses beyond credit cards. (WSJ)

Nevada may allow online poker within its borders. (WSJ)

U.S. Transportation Secretary Ray LaHood says he will not back a proposal to eliminate use of cellphones in cars. (WSJ)

Michigan will further look into Detroit’s finances as it considers a takeover of the city. (WSJ)

The Justice Department says Exelon (NYSE: EXC) and Constellation Energy (NYSE: CEG) could merge if they sell several plants. (WSJ)

Aol (NYSE: AOL) says criticism of management’s plans by Starboard Value is misplaced. (WSJ)

The head of TheStreet.com (NASDAQ: TST) to depart. (WSJ)

The National Association of Realtors says home sales were 14% below forecasts from 2007 to 2010. (NYT)

M&A activity drops because of sovereign debt and economic slowdowns. (FT)

Greece’s creditors resist IMF pressure to take more write-offs on sovereign paper. (Bloomberg)

Douglas A. McIntyre