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  • An elite squad of guinea pigs has worked its own brand of magic at the box office, taking the No. 1 spot from boy wizard Harry Potter.

  • Twitter

    Twitter is the talk of the Fortune Brainstorm conference. Everyone agrees it's a hot, powerful, popular new tool. But there's zero consensus about its profit potential.

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    While Technology is the topic of the Fortune Brainstorm TECH conference in Pasadena, Ca, where I'm reporting from today, media companies are front and center here.

  • Hollywood

    The booming box office is deceiving — movie studios are topping the $1 billion mark earlier this year than in years past and movies like Harry Potter continue to break opening-weekend records. But behind all those upbeat numbers, the industry is struggling.

  • AEG Live is looking to recoup the $30 million-plus it spent producing Michael Jackson's unrealized concert tour, and now it's selling off the rights to the rehearsal footage. Sources tell me that Sony Pictures Entertainment has bid $50 million to acquire the distribution rights.

  • Michael Jackson

    Sony's movie studio has bid $50 million to acquire the worldwide distribution rights to a film based on rehearsal footage for Michael Jackson's "This Is It" comeback concert series.

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    In the three years since she started Deadline Hollywood Daily, a daily blog about the entertainment business, her combination of old-school skills — she is a relentless reporter — and new-media immediacy has made her a must-click look into the ragingly insecure id of Hollywood.

  • MGM Studios

    Historic studio MGM has been the subject of lots of rumors and speculation about its financial health.

  • Harry Potter is some Wizard; he turns pretty much every business he touches into gold. The sixth movie in the franchise "Harry Potter and the Half-Blood Prince" opened at 12:01 Wednesday am with a record take; its 3,000 plus midnight shows brought in $22.2 million at the US box office. That's a solid ten million dollars more than the midnight gross from the previous Potter film. This puts the wizard on track for the biggest Wednesday to Sunday opening ever.

  • Here's a shocker for the struggling newspaper industry: good news! The largest US newspaper publisher, Gannett, beat analyst estimates with earnings of 46 cents per share (excluding some items), eight cents higher than analysts estimates, sending the stock higher in Wednesday trading.

  • Time Warner and Comcast's partnership to bring cable TV content to the Internet is adding more big brand-name partners.

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    Now Facebook employees (past and present) have an opportunity to cash out some of their stock, lifting some of the pressure on the company to go public.

  • Google's under so much scrutiny for so many reasons right now, some are saying when it comes to government investigations, it could be the new Microsoft. Eric Schmidt was impressively upfront when it comes to investigations and lawsuits.

  • When Google CEO Eric Schmidt sat down to chat at Sun Valley, he couldn't avoid the most talked about startup at the Allen & Company conference: Twitter.

  • Google CEO Eric Schmidt, top, and co-founders Sergey Brin, left, and Larry Page are seen at company headquarters in Mountain View, CA.

    Google is looking to transform the way people use computers with its new operating system, Chrome. Here in Sun Valley I sat down with Eric Schmidt in his first TV interview since the potentially game-changing news was announced Tuesday.

  • I just landed in Sun Valley for the annual Allen & Co. conference in Sun Valley. There are only a handful of private jets in the airport right now, but in just a few hours it'll be packed with jets whose tail numbers tell the story of some of the richest men in America.

  • Newspapers

    The newspaper industry has been struggling to figure out compensate for declining ad revenues and monetize its content online. Gannett just announced plans to slash between 1,000 and 2,000 jobs, mostly from its local papers.

  • The media conglomerates are trading down today, off more than the Dow. One factor pulling them down is the Supreme Court's decision not to consider their appeal to challenge Cablevision Systems new DVR service.

  • Stocks rallied Monday as convicted Ponzi swindler Bernie Madoff received the maximum sentence and oil topped $71 a barrel. Plus, there was some window dressing as Tuesday marks the end of the second quarter.

  • Yes, it's totally gruesome to think about how Michael Jackson's estate and others will benefit from the King of Pop's death, but it's inevitable.

Entertainment

Television

  • LOS ANGELES, July 22- Donald Trump's 75- minute acceptance speech at the Republican National Convention attracted roughly 30 million television viewers on major U.S. cable and broadcast networks, according to early ratings data that suggested the audience will not break convention records. Trump's audience on Thursday night appeared similar to the number...

  • Murdoch returns to head Fox

    CNBC's Julia Boorstin provides a look at what's next for Fox after CEO Roger Ailes resigned in the wake of a sexual harassment lawsuit.

  • Roger Ailes and Rupert Murdoch in October, 2010.

    Barton Crockett, FBR Capital Markets, discusses Fox's succession plans now that Roger Ailes has left and Rupert Murdoch will take the helm at Fox News.