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Former New York Times Editor Abe Rosenthal Dead at 84 (NYT)
Rosenthal, a Pulitzer Prize-winning foreign correspondent who became the executive editor of The New York Times and led the paper's global news operations through 17 years of record growth, modernization and major journalistic change, died yesterday in Manhattan. WaPo: In 2002, President Bush conferred on him the Medal of Freedom, the nation's highest civilian honor.

News Corp. Profit Doubles in Quarter (LAT)
The globe-spanning media company controlled by Rupert Murdoch reported that profit doubled in the latest quarter on an asset sale as well as stronger results at its Italian satellite TV company, cable networks and broadcast TV units.

Sirius to Start Catholic Channel (NYT)
The Roman Catholic Archdiocese of New York announced that it will work with Sirius Satellite Radio to create a 24/7 Catholic channel. Spokesman Joseph Zwilling said the channel, scheduled to begin this fall as the Catholic Channel, will "spread the word in a new way."

Could Microsoft Buy Time Warner? (BusinessWeek)
Some analysts believe it would make sense for Microsoft to buy Time Warner outright. "It would be a great move," says Susan Kalla of Caris & Co. In such a deal, Microsoft would be able to take advantage of Time Warner's current low multiple, without hurting its own valuation or stock price.

Journalist Death Toll Surges in Iraq (BBC)
Paris-based media watchdog Reporters Without Borders is calling on Iraq to set up a special investigation into the upsurge in murders of Iraqi reporters. So far this month five journalists and media assistants have been killed.

Stern: I'm Staying on Satellite (AHN)
Howard Stern is dismissing rumors he wants to have his satellite radio syndicated with FM radio. Stern: "I'm very flattered terrestrial radio can't let go of me, but I would throw up if I had to go back. I'm never going back."

Regis Philbin to Host New NBC Talent Show (B&C)
Philbin will host NBC's new talent competition series from Simon Cowell and FremantleMedia, America's Got Talent, which will premiere with a two-hour special on June 21.

Are Fridays Back From the Dead for TV Networks? (WSJ)
After three years of steep ratings declines, the broadcast networks are making a comeback on Fridays. This season, the six networks are drawing about 38 million viewers on Friday nights, according to Nielsen Media Research, up about 19 percent from a year ago and near 2001-02 audience levels.

MySpace in Your Pocket (LAT)
The wildly popular online social network now comes in a cellphone version. MySpace is featured on two new phones and a wireless service that hit the stores this week from a company called Helio.

Hip-Hop Jock Fired for 'Racist, Violent' On-Air Remarks (NYDN)
Troi Torain, Power 105's DJ Star, has been fired by the station after he spewed racist, violent remarks on air about rival Rashawn Casey, a.k.a DJ Envy of Hot 97, and his wife, Gia Casey, and threatened to sexually molest their young daughter.

Yahoo, Telemundo Team Up for Spanish-Language Web Portal (AP via San Jose Mercury News)
The Internet giant and Spanish-language TV network have launched a cobranded Web site that features content catering to the growing U.S. Hispanic audience. The site, dubbed "Yahoo Telemundo," replaces Spanish-language Internet portals previously operated the two companies.

Knight Ridder Exec's $10 Million Parachute (NYP)
Knight Ridder Chief Executive Tony Ridder, who failed to turn around the ailing newspaper chain his family founded, will get nearly $10 million in severance as he turns over the reins to a new owner. The hefty payout is more than the $7.28 million severance previously estimated for Ridder.

MSO Execs Lining Up Candidates for Blueprint Editor (WWD)
Executives at Martha Stewart Living Omnimedia are lining up potential replacements for Blueprint editor Rebecca Thuss, who abruptly left the company last month. Some rumored possibilities include Elizabeth Mayhew, Amy Goldwasser, Jason Oliver Nixon, James Ireland Baker and Angela Matusik.

The Jayson Blair Scandal, Three Years Later (E&P)
Joe Strupp: Three years ago today, The New York Times changed forever. It was on this date, in 2003, that the venerable "Gray Lady" truly bared her soul for the first time ever, revealing the sins of Jayson Blair. How has it, and newspapering, changed since?

Fighting Singleton's Monopoly (SFBG)
Editorial: The implications are staggering. The deal sets the scene for an unprecedented level of local media consolidation — and could lead to a scenario in which all the business, advertising, and even editorial functions of almost every Bay Area daily would be run out of one central office.