Media Digest (5/20/2011) Reuters, WSJ, NYT, FT, Bloomberg

Liberty Media offered $1 billion for Barnes & Noble. (NYSE: BKS) (Reuters)

Tepco lost $15 billion. (Reuters)

Goldman Sachs (NYSE: GS) expects to receive a summons from the US government shortly. (Reuters)

Gold rose as those who think it has fallen to much moved back into the market. (Reuters)

The price of LinkedIn more than doubled after its IPO. (Reuters)

Playboy will put is entire issue archive online. (Reuters)

Facebook is considering a push into China. (Reuters)

Spain may not have known about high debt in some of its regions. (WSJ)

The IEA said the world needs increased oil supply. (WSJ)

Gap’s (NYSE: GPS) earnings were hurt by high costs. (WSJ)

China food firms will look for M&A candidates outside the country. (WSJ)

Barnes & Noble will release a new e-reader to increase it competition with the Amazon.com (NASDAQ: AMZN) Kindle and Apple (NASDAQ: AAPL) iPad. (WSJ)

The ECB may cut funds to Greek banks if the US tries to alter the southern European country’s debt. (WSJ)

McDonald’s (NYSE: MCD) defended its marketing practices.(WSJ)

Consumer products companies in China has shrunk the size of containers and wrappers to sell less product at the same price. (WSJ)

China moved ahead of India as the largest buyer of gold based on Q1 statistics. (WSJ)

Blackrock will buy back a stake owned by Bank of America (NYSE: BAC) for about $2.5 billion. (WSJ)

Chrysler is close to repaying the federal government. (WSJ)

The Administration will probe insurers about high rates. (NYT)

A new study shows ways that spam email may be cut considerably. (NYT)

E-books now outsell print books at Amazon (NASDAQ: AMZN). (NYT)

The IEA asked OPEC to increase production. (FT)

Apple has made deals with music labels for its cloud media product. (Bloomberg)

Douglas A. McIntyre