Media Digest 1/7/2008 Reuters, WSJ, NYTimes, FT, Barron's

According to Reuters, Yahoo! (YHOO) is pushing the mobile handset as the next major target for its products.

Reuters reports that analysts are trimming forecasts for the first and second quarter of this year as concerns about the economy get worse.

Reuters writes that Toshiba claims that its HD DVD format has not lost out to Sony’s (SNE) Blu-ray despite Warner’s decision to use Blu-ray exclusively.

The Wall Street Journal reports that McDonald’s (MCD) plans to add coffee bars at 14,000 stores in a challenge to Stabucks (SBUX) that could add $1 billion in sales to the fast food company’s revenue.

The Wall Street Journal reports that a number of large media companies have licensed content to Microsoft (MSFT) to be used on its Xbox Live and MSN services.

The Wall Street Journal reports that Liberty Media will buy Bodybuilding.com for $100 million in an effort to improve its internet portfolio.

The Wall Street Journal reports the Wikia has launched an open source search engine to compete with Google (GOOG).

The Wall Street Journal writes that GM (GM) is working on a car that will drive itself.

The Wall Street Journal writes that Comcast (CMCSA) will launch new technology which will make watching TV more simple.

The New York Times writes that Sony (SNE) sold 1.2 million PS3s over the holiday helping the Blu-ray fromat because a player is installed in each machine.

The New York Times writes that a group of outside investors is bidding to take control of CNET (CNET).

The New York Times writes that the company and CNBC will share content between their two websites.

The FT writes that Sony’s (SNE) success with Blu-ray is a blow to Microsoft’s digital media plans.

Barron’s writes that Microsoft will host a live video site for the Olympics.

CNN Money writes that more banks will cut dividends this year.

Douglas A. McIntyre