Media Digest 8/23/2007 Reuters, WSJ, NYTimes, FT, Barron's

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According to Reuters, a group of California gas stations filed suit against Chevron (CVX), Saudi Aramco, and Royal Dutch Shell for price fixing.

Reuters writes that Canon (CAJ) is spending another $862 million on its share buy-back.

Reuters reports that Bank of American (BAC) has invested $2 billion in Countrywide Financial (CFC).

The Wall Street Journal writes that Facebook is working on an ad system that will target marketers messages based on information given by the website’s members.

The Wall Street Journal writes that Nokia (NOK) will preload Microsoft (MSFT) applications on phones in eleven countries in an attempt to get additional revenue from web services.

The New York Times reports that customers are troubled by the multi-page billes they get from AT&T (T) for their Apple (AAPL) iPhones

The FT writes that Samsung is about to overtake Motorola (MOT) as the No.2 handset company.

The FT reports that the private equity deal for Home Depot (HD) Supply may be in deep trouble.

Barron’s reports that JDSU beat forecasts.

Douglas A. McIntyre