Media Digest 9/1/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, Hurricane Gustave is heading toward New Orleans after shutting down most oil production in the Gulf of Mexico.

Reuters reports that Commerzbank will buy Dresdner Bank for $14.5 billion.

Reuters reports that the Korean Development Bank is in talks to take a piece of Lehman (LEH)

Reuters reports that MTV (VIA) will launch an international HD channel.

Reuters writes that China is looking to Japan’s past to see how its economic expansion could play out.

According to The Wall Street Journal Chancellor of the Exchequer Alistair Darling said the U.K. could be facing the worst economic conditions in 60 years.

The Wall Street Journal writes that several firms are looking at assets of bankrupt airline Alitalia.

The New York Times reports that web TV has had a few large hits but has not come up with a sucessful model.

The FT writes that Atticus Capital, one of New York’s most powerful hedge funds, has lost $5 billion this year.

Bloomberg reports that gas and oil prices have begun to rise as oil production in the Gulf has been stopped.

Douglas A. McIntrye