News Corp Chief Executive Rupert Murdoch's total compensation for 2008 fell 14 percent to about $27.5 million, the company said in a regulatory filing.

Rupert Murdoch's News Corp. reported fourth quarter profit rose 27 percent from the sale of its interests in Fox Sports Bay Area and Gemstar-TV Guide International as well as double-digit percentage profit jumps in nearly all divisions

Vivi Nevo is said to be the largest individual shareholder of Time Warner, was once the largest private investor in Goldman Sachs, is engaged to China’s most famous actress, vacations on Rupert Murdoch’s sailboat, is the godfather of Lachlan Murdoch’s son, counts Lenny Kravitz as a good friend and attended Madonna’s wedding in 2000.And many people, including even some of his close friends, have no idea what his background is or how exactly he made his fortune.

Rupert Murdoch, whose News Corporation owns The New York Post, and Mortimer B. Zuckerman, the real estate developer and owner of The Daily News, who for years have been bitter tabloid competitors, are considering the unthinkable: cooperation.

News Corp's Rupert Murdoch said it was "very unlikely" his company would be involved in any Yahoo transaction and said Yahoo and Microsoft would not end up with any deal.

Yahoo shares rose more than 6 percent Wednesday as The Wall Street Journal reported Microsoft has talked to other media companies about teaming up to buy Yahoo’s search business.

The Macy’s fireworks spectacle is a show not to miss, but so are the movies that have opened on the July 4th holiday weekend.  According to BoxOfficeMojo, here are the 10 highest grossing Fourth of July weekend movie openings of all-time as of 2007.

The growing advertising ambitions of technology powerhouses like Google and Microsoft are creating alarm in the executive suites of ad agencies.

Mainstream advertisers normally gravitate toward wholesome characters from mainstream shows that steer clear of hot buttons. But in recent months, big brands like Coca-Cola, Subway and White Castle have been borrowing for their marketing efforts characters from “Family Guy,” which has been criticized for everything from anti-Semitism and sexism to homophobia and overall disgustingness, the New York Times reports.

When the News Corporation added MySpace to its portfolio nearly three years ago, it expected that if its base of 16 million users kept growing — and each user kept adding friends, sharing photos and swapping flirty messages — the advertising dollars would roll in, the New York Times reported.

Spending on online advertising leapt 40 percent in Europe last year to 11 billion euros ($17 billion), the Interactive Advertising Bureau (IAB) Europe said on Monday, as the Internet attracts ad budgets away from print.

Napster, the digital music service, on Tuesday opened the world's biggest MP3 download store with more than 6 million songs in a direct challenge to Apple's iTunes store.

The Wall Street Journal's managing editor is resigning, Dow Jones said, setting the stage for News Corp chief Rupert Murdoch to further consolidate his power in the business paper's newsroom.

Tribune plans to sell the Newsday daily newspaper on Long Island to News Corp for about $580 million, The Wall Street Journal reported online on Monday, citing sources familiar with the situation.

The managing editor of the Wall Street Journal is planning to resign his post, the Journal reported on its website on Monday.