What You Should Have Read: May 23, 2007

Bloomberg: CBS Touts Standing as Most-Watched Network

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CBS Said It Led Television Ratings for Fifth Year
Bloomberg reports that CBS said it will finish the current prime-time TV season as the most-watched network for the fifth-straight year, citing data from Nielsen Media Research. With the season ending tomorrow, the network also will improve to second place among viewers ages 18 to 49, the group most sought by advertisers. Fox will end a third-straight season as the most-watched network among 18- to 49-year-olds, largely on the strength of "American Idol," prime time's most popular show.

Dow Jones's Bancrofts Set Private Meeting Over Offer
The Wall Street Journal reports family members who control Dow Jones & Co. are planning to hold a private meeting today to discuss their options in the wake of News Corp.'s $5 billion offer for the publisher. The Bancroft family, which controls 64% of the voting power of Dow Jones through a special class of stock, hasn't taken any action so far on the $60-a-share bid from News Corp. Chairman Rupert Murdoch.

Viacom, India's TV18 Group in JV for entertainment
Reuters reports that Viacom Inc. and India's TV18 Group are forming an equal joint venture for general entertainment business in India, where TV channels are booming, the two groups said yesterday. "India is one of our priority market for our expansion and we see long-term growth opportunities," Viacom CEO Philippe Dauman, who is on his first visit to India, told reporters at a news conference. India, the world's third-largest pay-TV market, is set to become the top pay-TV market in Asia-Pacific by 2015, research firm Media Partners Asia said in a report last month.
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