Media Digest 12/9/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

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According to Reuters, The Tribune Company filed for Chapter 11.

Reuters reports that Congress and The White House are close to a bill that would give Detroit modest loans.

Reuters reports that Fannie Mae (FNM) and Freddie Mac (FRE) execs were warned years ago about the risks of some of their lending.

Reuters reports that regulators are still troubled about how to fix the housing crisis.

Reuters reports that Ford (F) is discussing selling Volvo to a Chinese firm.

Reuters writes that Sony (SNE) will cut 8,000 jobs.

Reuters reports that Fedex (FDX) cut its outlook and its shares fell sharply.

The Wall Street Journal reports that the US may end up owning shares in The Big Three.

The Wall Street Journal reports that the US may use bailout funds to help some credit unions.

The Wall Street Journal reports that Yahoo! is closer to finding a CEO with the ex-Vodaphone (VOD) chief as a lead candidate.

The Wall Street Journal reports that the CEOs of Morgan Stanley (MS) and Merrill Lynch (MER) will get no bonuses.

The Wall Street Journal reports that Chrysler talks with China’s Chery Automotive about building a strategic relationship have died because of the economy.

The Wall Street Journal reports that may auto parts companies are failing.

The Wall Street Journal writes that Dow Chemical (DOW) will cut 11% of its staff.

The Wall Street Journal writes that LBO candidate BCE got a positive report on its solvency.

The Wall Street Journal reports that tech companies are working on cutting the legal risk of using open source software Linux.

The Wall Street Journal reports that Texas Instruments (TXN) and National Semi (NSM) cut forecast.

The Wall Street Journal reports that S&P downgraded Russia’s debt.

The Wall Street Journal reports that sales at McDonald’s (MCD) jumped.

The Wall Street Journal reports that tech spending will slow in 2009.

The Wall Street Journal reports that the head of Playboy (PLA) will step down.

The New York Times reports that Japan’s recession deepened in the third quarter.

The New York Times reports that car dealers are preparing for closings or a fight with The Big Three over their franchises.

The New York Times reports that modified home loans often lead borrowers back to trouble.

Bloomberg reports that Obama hopes to borrow China’s wealth and clout to stabilize the US economy.

Douglas A. McIntyre