William Morris to Invest in Droga5, an Ad Agency

The giant talent agency is close to acquiring a 49 percent stake in Droga5, an independent advertising agency whose clients include Coca-Cola and Motorola.

    

To Cut Taxes, Tribune Is to Split Into Broadcasting and Publishing Units

The Tribune Company is following in the footsteps of Time Warner and News Corporation as the trend of spinning off print publications into separate companies continues.

    

The Media Equation: A Different Deal Mania Grips TV

As companies like Tribune and Gannett buy up local television stations, the goal is not transformation, but leverage, using size to cut better deals with distributors and suppliers.

    

DealBook: Talk of Mergers Stirs Cable TV’s Big Players

John C. Malone is weighing a deal for Time Warner Cable, using Charter Communications as the merger partner, people briefed on the matter said.

    

DealBook: Tribune to Buy 19 TV Stations Amid Groundswell of Consolidation

The Tribune Company agreed on Monday to buy 19 local television stations for about $2.7 billion, becoming one of the nation’s biggest commercial TV station owners.

    

Hulu Faces a Nebulous Future as It Seeks a New Owner

Hulu’s sale could signal the end of one of the pioneers of online streaming, which has become an increasingly popular way to watch television.

    

High & Low Finance: Tribune Falls Afoul of Its Own Tax Strategy

The media company, just out of bankruptcy, is now facing millions of dollars in taxes and penalties.

    

Advertising: Allen & Gerritsen to Merge With the Neiman Group

The two independent agencies want to expand to handle larger accounts and compete better.

    

Newsweek Is Put Up for Sale

An internal memo widely circulated on the Internet disclosed plans to sell the magazine and focus on The Daily Beast.

    

Bits Blog: Tumblr Founder Says Site to Stay ‘Independent’

A day after Yahoo’s board approved a deal to acquire Tumblr, Marissa Mayer, Yahoo’s chief, and David Karp, Tumblr’s founder, reassured users that Tumblr would operate as it did before.

    

Alaskan Media Battle Pits KTUU and Cable Rival

A telecommunications company’s bid to offer TV content raises questions about fairness and monopoly.

    

Diller Gives Bleak Assessment of Newsweek

The head of IAC/InterActiveCorp called the acquisition of the struggling newsweekly “a mistake,’’ adding, “I don’t have great expectations.’’

    

Koch Brothers Making Play for Tribune’s Newspapers

Charles and David Koch, the billionaire industrialists and supporters of libertarian causes, are exploring a bid to buy the Tribune Company’s eight regional newspapers.

    

Discovery Expands Its Reach Overseas to Ensure Growth

With a proliferation of channels competing for a diminished number of total viewers, media companies have looked elsewhere for growth.

CBS Acquires 50% Stake in Former TV Guide Network

The company said Tuesday that it had completed a deal to buy a half interest in TVGN, formerly the TV Guide Network.

Wood Creek Adds to Music Holdings, Acquiring Concord

Concord’s niche was catering to adult tastes, with artists like Paul Simon and Creedence Clearwater Revival, and extensive jazz holdings.

Murdoch’s Appetite for Los Angeles Times May Depend on F.C.C. Changes

News Corporation wants the F.C.C. to waive a rule that would prevent it from acquiring The Los Angeles Times, but a regulator’s exit may delay further action.

Media Decoder Blog: SFX Entertainment Buys Major Stake in Dutch Festival Promoter

The deal with ID&T, perhaps the biggest in the market so far, will give SFX a major foothold on the global festival circuit as it tries to build a $1 billion media empire centered on dance.

‘C.S.I.’ Gets a New Financial Partner

Content Partners has agreed to buy half of the franchise from a unit of Goldman Sachs in a deal that makes it a co-owner with CBS.

Media Decoder Blog: Bertelsmann Acquires Full Control of BMG Music Company

Bertelsmann restarted BMG in 2008, and now has bought up the 51 percent stake owned by Kohlberg Kravis Roberts, signaling a full return to the music business.