RUPERT MURDOCH

The global recession, shrinking advertising sales and fears that the Internet could render big media empires obsolete provide an ominous backdrop for executives at this week's Sun Valley conference.

Social network MySpace Inc. announced Tuesday it will close at least four overseas offices and slash its overseas workforce by 300 employees.

MySpace, the social networking website owned by Rupert Murdoch's News Corp, said on Tuesday it plans to cut about two-thirds of its international workforce and close at least four of its offices outside the United States.

MySpace, the social networking website owned by Rupert Murdoch's News Corp, said on Tuesday it plans to cut about two-thirds of its international workforce and close at least four of its offices outside the United States.

MySpace, the social network owned by Rupert Murdoch's News Corp, said it plans to cut about two-thirds of its international workforce and close at least four of its offices outside the United States.

MySpace, the social network owned by Rupert Murdoch's News Corp, said it will cut its staff by 30 percent to lower its cost as it struggles to maintain its popularity in the face of rising competition.

Rupert Murdoch's News Corp named DirecTV Chief Executive Chase Carey as his top lieutenant on Wednesday, marking the return of one of the media conglomerate's most trusted veterans.

DirecTV Group Inc Chief Executive Chase Carey might return to News Corp to succeed the media conglomerate's departing No. 2 executive, Peter Chernin, several news outlets reported on Sunday.

Technology can pull the United States out of recession and help the world's ailing financial markets work better, Microsoft Corp Chairman Bill Gates told a high-level business summit at the company he co-founded.

American Idol reaches its climax this week, still ruling the roost on U.S. television after eight seasons, but the battle of the songsters faces declining audiences and limits to its viewer-driven format.

Sarah Palin, the Alaska governor pulled from the U.S. political periphery onto the 2008 Republican presidential ticket, has signed a deal to write her memoirs with HarperCollins.

News Corp posted a 47 percent drop in operating income on Wednesday as advertising revenue declined, but Chairman Rupert Murdoch said the worst effects of the recession are behind the media company.

Rupert Murdoch's News Corp posted a 47 percent drop in operating income on Wednesday because of falling advertising revenue at its television stations, newspapers and other businesses.

Rupert Murdoch's News Corp posted a 47 percent drop in operating income on Wednesday because of falling advertising revenue at its television stations, newspapers and other businesses.

Amazon.com Inc's Kindle electronic reader was supposed to revolutionize publishing by freeing people from having to carry books around. Now the Web retailer may super-size it for newspaper readers.

Sumner Redstone, executive chairman of CBS Corp, said on Wednesday that he thinks the U.S. stock market is at the start of a bull market.

Rupert Murdoch's News Corp, hired two technology startup veterans to fill top roles at MySpace after a management shakeup last week aimed at revitalizing the online social network.

Rupert Murdoch's News Corp named former Facebook executive Owen Van Natta as chief executive of the MySpace online social network on Friday, replacing co-founder Chris DeWolfe.

The chief executive and co-founder of social networking site MySpace is reportedly leaving the company due to termination.

Rupert Murdoch's News Corp said on Wednesday that MySpace co-founder Chris DeWolfe will not be renewing his contract and will step down from the chief executive post.

Rupert Murdoch's News Corp may be courting a former top executive at social network Facebook to replace the chief executive and co-founder of its top rival MySpace, All Things Digital, a media and technology website, reported on Wednesday.