Media Digest 6/29/2007 Reuters, WSJ, NYTimes, FT, Barron's

According to Reuters, the Apple (AAPL) iPhone will hit stores today giving the mobile industry a jolt.

Reuters writes that GM (GM) has sold its Allison Transmission business for $5.6 billion.

Reuters reports that the NBC CEO says that his company’s decision to pass on Dow Jones (DJ) due to the size of the premium Rupert Murdoch would pay.

The Wall Street Journal writes that Research In Motion’s (RIMM) profits rose 73% on the last quarter.

The Wall Street Journal reports that Qualcomm (QCOM) was rejected a patent dispute settlement that would have paid rival Broadcom (BRCM) over $1.5 billion.

The Wall Street Journal also reports that Netflix (NFLX) has lowered the cost of its service to match rival Blockbuster (BBI).

The Wall Street Journal writes that NBC and News Corp (NWS) have named a former Amazon exec to run their new online video joint venture.

The New York Times writes that the CEOs of Apple (AAPL) and AT&T (T) defended using a slower network for the iPhone.

The New York Times writes that music publisher EMI will sell music on new internet stores that can be added to other websites.

FT writes that global M&A deals rose 50% in the first half of the year.

Barron’s writes that Palm (PALM) accounced disappointing quarterly results and poor guidance.

Douglas A. McIntyre