Lachlan Murdoch and the gambling magnate James D. Packer have made an offer of 3.3 billion Australian dollars ($2.9 billion) to buy Consolidated Media Holdings.

Writers Drop Demand and a Picket Plan
Striking writers dropped their demand for extended jurisdiction over reality and animation work and said they won t picket the Grammy Awards telecast.

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Growing Online, BBC Is to Join With MySpace
The commercial arm of the British Broadcasting Corporation on Thursday is expected to announce that it will make some of its content available on MySpace.

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Democrats Test Messages in Early Nationwide Ads
Barack Obama and Hillary Rodham Clinton are already advertising on a scale reminiscent of a general election.

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