Viacom can afford to pay freelancers something something

Today in the news news: BusinessWeek tells employees that it is "reorganizing," in the sense of "you are fired"; China is tired of showing stupid American movies; and television, surprisingly, will only be getting worse.

Today in the news news: BusinessWeektells employees that it is “reorganizing,” in the sense of “you are fired”; China is tired of showing stupid American movies; and television, surprisingly, will only be getting worse.

Spotlight: Viacom

The media giant's MTV Networks caved to a bunch of hippie freelancers waving homemade signs demanding health care. Then again, they're one of the only big media conglomerates whose stock was worth owning recently. And with MTV opening a new digital ad unit, hopefully they can put those hippie freelancers to work in an evil cause, as is the mission of media conglomerates in general.

Also:

Liveblogging the FCC ownership hearings

Nobody wants to read Barry Diller's corny jokes

Tribune plans to sell the Chicago Cubs to delay the inevitable spiral into bankruptcy

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