Verizon has filed a letter with the SEC saying that MCI should be liquidated as its accounting irregularities essentially turned it into a "criminal enterprise." Analysts say Verizon's actions are unprecedented but do not have a high chance for success.
Liberty Media posted net income of $132 million for the first quarter, compared with a $1.56 billion net loss for the same period last year. The company said revenue fell to $505 million from $513 million.
MSO Comcast is rolling out a new service for its high-speed subscribers, Comcast Arcade, which allows users to play and purchase more than 130 video games. The move is part of the company's strategy to attract more users to its high-speed services.
FCC Chairman Michael K. Powell's proposed rule changes feature a provision that would subject media mergers to scrutiny, ending rumors that the new rules could vastly alter the media landscape. Should the changes go into effect, smaller broadcasters could be sitting pretty.
After the dot-bomb, tech companies laid off advertising, but recently they have begun picking up the pace. Several large tech companies, such as IBM, Microsoft and eBay, have started comprehensive campaigns.