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News Corp. (NWS-A) and Time Warner (TWX) have reached an agreement on an all-encompassing contract that is said to have been finalized on Dec. 28.

The deal, according to executives close to the proceedings, includes:

"... retransmission-consent carriage for Fox’s owned-and-operated stations through 2009; renewals for Fox News and Speed Channel; the addition of Fox Reality Channel to its channel lineup; and a commitment to the business channel Fox News has been contemplating launching."

A spokesman for Fox News has confirmed the components of the deal; including the extension for the Fox News channel and the placeholder agreement for the proposed business channel.

Roger KIng, CEO of CBS (CBS) Television Distribution, announced that "Wheel of Fortune" and "Jeopardy!" have been renewed through the 2011-2012 seasons.So far the shows have been renewed in around a third of the country, with Sinclair, ABC (DIS), Post-Newsweek,... Continue Reading

In a deal that has seemed to be happening for years, News Corp. (NWS-A) and Liberty Media finally reached agreement on the largest share buyback in company history. After two years the two Liberty Media agreed to trade its $11... Continue Reading

Toronto-based Alliance Atlantis Communications Inc. (AAC-B), who is 50 percent owner in the CSI franchise, announced that it has put itself up for sale. The strategy would involve CanWest Global Communications Corp. (CGS), and possibly bring as much as $2.2... Continue Reading

News Corp. has increased its stake in the National Geographic Channel through purchasing 25% stakes that currently run the international operations of the company on cable TV. Currently the 25 percent stakes are owned by NBC Universal (GE).In a regulatory... Continue Reading

The Walt Disney Company (DIS), through its ESPN network, has purchased a minority stake in the Arena Football League. This move will result in the broadcasting of 14 of the leagues games on a Monday night basis, and another 12... Continue Reading

Jerry Seinfeld has decided that he wants to give animation a try, and as a result, is now going to be the voice of a bee who leaves home (the hive), and learns that humans have been taking their honey.... Continue Reading

In a huge deal, two private equity groups bought out Harrah's, the largest casino company in the world, says an anonymous source. The price is for a reported $16.7 billion, two people close to the negotiations said. The official announcement... Continue Reading

For weeks, Vivendi has been sitting upon the decision on whether they would make General Electric (GE) make a big payout to Vivendi to buy their stake in NBC Universal. They finally revealed on Thursday that they wouldn't exercise its right... Continue Reading

Marking the first time Oprah Winfrey has given her name to a weekly primetime series, she has sold two reality show to ABC through her Harpo label. The Harpo label was just recently formed for the purpose of developing TV projects.... Continue Reading

Matt Damon has said that if he was offered the part as a young Captain Kirk in the next Star Trek movie, he would take the part if he liked the script.William Shatner is seemingly unable to come to grips... Continue Reading

The popular Twentieth Century Fox (NWS) Alien franchise is teaming up with Video game software and hardware developer Sega Europe Ltd. to develop games for its next generation gaming consoles.In a joint statement the two companies said that there will... Continue Reading

Morgan Freeman's online movie-download business ClickStar, has scored a coup as it signed on three major players in early days of the young business. Freeman has been working hard behind the scenes trying to convince the big studios that they... Continue Reading

Disney (DIS) continues to expand its foray into soccer as it has won the rights to air soccer’s 2008 European Championships. While its various ESPN outlets will carry the brunt of the coverage, ABC will show two of the matches.Included in... Continue Reading

The media industry will probably continue in a high state of mergers and acquisitions, said Susquehanna Financial Group. The major reasons being the need to find growth in a declining market, and private-equity firms looking for places to put their... Continue Reading

In a deal reported by the Wall Street Journal, European private-equity group Permira, has made a bid for music company EMI Group PLC for an estimated $3.9 billion. While the deal hasn't been completed yet, the sides are said to... Continue Reading

The Ohio state senate approved Senate Bill 155, called the Ohio Motion Picture Investor Tax Credit, by a unanimous vote. If the bill is voted into law, it will offer a number of state tax incentives to attract the production... Continue Reading

George Clooney has partnered with Warner Bros.' (TWX) to purchase the rights to John Grisham's first nonfiction book, "The Innocent Man."While the exact terms of the deal weren't disclosed, it reportedly paid Grisham something in the seven-figure range, and also... Continue Reading

With France soon to have only one pay TV operator, the news is that they may be negotiating with Hollywood studios to cut the cost of its deals by as much as 30%.The company, Canal Plus, is about to be... Continue Reading

CBS announced that their late-night comic, David Letterman has signed on with them through 2010. Rumors have been swirling around for several months that he had accepted the offer.Letterman said: "I'm thrilled to be continuing on at CBS (CBS), at... Continue Reading