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In the spotlight: Deals and no deals

Media outlets are widely reporting that the proposed $19 billion sale of Clear Channel is near collapse. Negotiations between private equity firms Thomas H. Lee and Bain Capital Partners, on one side, and a group of banks including Citigroup, Morgan Stanley, Deutsche Bank, Credit Suisse, RBS, and Wachovia, on the other, went sour over financial terms. Regarding radio that operates beyond the surly bounds of Earth, the Department of Justice approved XM's merger with Sirius; the Federal Communications Commission is expected to act quickly. Meanwhile, Hearst is now the proud owner of a relationship site.

Also:

Pinch Sulzberger took a pay cut last year.

Rumors fly that Bradlee successor Len Downie may retire from the Washington Post, with staffer reaction quotes.

Almost-Sen. Harold Ford (D-TN) jumps from Fox News Channel to MSNBC, while Brian Sullivan leaves Bloomberg for Fox Business Channel.

New York Giants fans will have to watch their team open its title defense around Sen. John McCain's (R-AZ) acceptance speech at the Republican convention.

Get ready for more Paris, Britney stories from the Associated Press.