What You Should Have Read, July 19, 2007

Redstone Rift Could Determine Future of Media Fortune

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New Crack in the House of Redstone
Fortune's Tim Arango reports that a fracture in the relationship between Sumner Redstone, the mercurial 84-year-old mogul who controls CBS and Viacom, and his daughter has become the latest drama within the House of Redstone, and how it plays out could decide future control of one of the world's great media fortunes.

Murdoch's Arrival Worries Journal Employees
The New York Times continues its coverage of the rival Wall Street Journal's takeover by News Corp.'s Rupert Murdoch by detailing just how unhappy editorial employees are about it. During a conference call among editors and bureau chiefs, one quipped, "Rupert has confirmed to me that we will have Page Three girls [like London tabloid The Sun]. But in a concession, they will be dot drawings."

Time Ordered to Pay $101,000 Over Promotion
Canada's National Post reports that a Montreal Superior Court ruled that a Time Inc. subscription sweepstakes promotion was misleading and ordered the publishing company to pay Jean-Marc Richard, who thought he won $833,337 after receiving a letter from Time magazine, $101,000 in damages.
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