The New York Times sat down with Rupert Murdoch to ask what he would do if he does succeed in buying Dow Jones and its flagship business daily. One idea is to turn the Saturday Pursuits section into a glossy weekend magazine; and he's enamored of the paid web model, saying you can charge advertisers more that way since you can better target messages. With audio.
Imus Won't Go Quietly
Fortune's Tim Arango was first out with the news that fired shock jock Don Imus had hired a first-rate First Amendment lawyer to argue that CBS should pay the remaining $40 million left on his contract. The case hinges on a contract clause being referred to as "dog has one bite," meaning that Imus was supposed to get a warning before he could be fired. CBS's lawyers contend Imus was fired for cause and not owed the rest of the money.