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Media

Media Digest (12/22/2011) Reuters, WSJ, NYT, FT, Bloomberg

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By Douglas A. McIntyre Published
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Yahoo! (NASDAQ: YHOO) is working on a deal with Alibaba to sell part of its stake in the Chinese company. (Reuters)

Toyota (NYSE: TM) expects record sales next year of 8.48 million, up 20% from this year. (Reuters)

Bank of America (NYSE: BAC) will pay $335 million due to a lending bias charge against its Countrywide operation. (Reuters)

Fitch warns the U.S.’s AAA rating is under pressure because of debt load. (Reuters)

EU antitrust officials have not been convinced by arguments that the NYSE Euronext (NYSE: NYX) and Deutsche Boerse should merge. (Reuters)

A study by Exane BNP Paribas shows that only a few people in Europe would buy the new Nokia (NYSE: NOK) Lumia smartphone. (Reuters)

Airbus should deliver 1,600 planes this year, which would significantly push down the market share of Boeing (NYSE: BA). (Reuters)

Hundreds of eurozone lenders have tapped the European Central Bank for $640 billion in low interest loans, a sign of trouble in the financial sector there. (WSJ)

Former Avon (NYSE: AVP) CEOs James Preston and David Mitchell say they are upset that current CEO Andrea Jung will stay as executive chairman after she steps down as CEO. (WSJ)

American Express (NYSE: AXP) looks at businesses beyond credit cards. (WSJ)

Nevada may allow online poker within its borders. (WSJ)

U.S. Transportation Secretary Ray LaHood says he will not back a proposal to eliminate use of cellphones in cars. (WSJ)

Michigan will further look into Detroit’s finances as it considers a takeover of the city. (WSJ)

The Justice Department says Exelon (NYSE: EXC) and Constellation Energy (NYSE: CEG) could merge if they sell several plants. (WSJ)

Aol (NYSE: AOL) says criticism of management’s plans by Starboard Value is misplaced. (WSJ)

The head of TheStreet.com (NASDAQ: TST) to depart. (WSJ)

The National Association of Realtors says home sales were 14% below forecasts from 2007 to 2010. (NYT)

M&A activity drops because of sovereign debt and economic slowdowns. (FT)

Greece’s creditors resist IMF pressure to take more write-offs on sovereign paper. (Bloomberg)

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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