Tribune sells its lowest performing Connecticut papers, the Advocate and the Greenwich Times, to Hearst Corp for a whopping $62.4 million, reports the Wall Street Journal. The sale follows a failed $73 million deal to sell the papers to Gannett.
According toThe New York Times, the papers will be managed by MediaNews Group, under an existing joint venture agreement with Hearst.
Winds have carried the CA wildfires to DC. From the New York Times: The House passed a bill to provide health insurance for 10 million children, but since the absence of lawmakers helping constituents deal with the wildfires skewed the roll call, supporters didn't have enough votes to override the President's promised veto.
Marshall Kirkpatrick , new media consultant and blogger, highlights pitches he gets from PR professionals.
According to MarketWatch, Countrywide shares bounced back more than 15% this morning, after the company reported its first quarterly loss in 25 years.
The Verizon-Vonage patent suit has been settled. Vonage will pay Verizon up to $120 million - and give 2.5 million to charity - if the US appeals court rejects the appeal request, or pay $80 million if the court agrees to reconsider its ruling, Bloomberg reports.
Note - emotional breakdowns drive ratings. Ellen's meltdown over the Iggy (dog) adoption issue drove her talk show ratings up 10%.