Time Warner has submitted an all-cash $1.5 billion offer for Metro-Goldwyn-Mayer Inc., joining two other known bidders, independent studio Lions Gate Entertainment and industrialist Len Blavatnik's Access Industries. MGM said is will evaluate the bids over the next several weeks, while working with its lenders to extend the current forebearance period for paying interest on its $3.7 billion bank debt, which ends March 31. Additionally, MGM is hoping to strike a forebearance aggrement for its separate $250 million revolving credit facility with JP Morgan Chase, which is due in full on April 8. Another option: MGM could wind …

For years, Fox News' pitch to advertisers and the press was that it was bigger than other cable-news network. Now the network intends to pitch itself against mainstream cable networks -- and convince media buyers cable news isn't a downscale ad buy -- and that its audience consists of more than Republican retirees. Paul Rittenberg, exec VP-ad sales for Fox News Channel, Fox Business Network and Fox News Digital, said: "For the last six months, we've been trying to position ourselves as more than just direct competition with CNN; that's over for us in a way," he said. …

The overall market for magazine-related M&A deals was active during the first quarter of 2010; per Jordan, Edmiston Group, there were approximately 20 magazine M&A transactions through mid-March. What has been most notable is that private equity returned to the market as buyers of magazine assets this quarter. Some prominent examples of PE-fueled deals this quarter were Seguin Partners' January acquisition of CFO from The Economist Group, Spectrum Equity-backed Canon Communications buying four properties from Reed Business Information and Boston Ventures-backed Northstar Travel Media picking up five brands from Nielsen Business Media's travel group.

FCC Chairman Julius Genachowski says the government has a crucial but "restrained" role in the rollout of broadband, and should focus on solutions. In Senate Commerce Committee testimony, he said the government plan is fiscally prudent, including touting the billions in revenue that could come from opportunities for new spectrum auctions. The FCC is looking to broadcasters to give up at least 120 MHz of spectrum for auctioning, whose estimated value is in the billions by itself. The chairman echoed his belief that broadband is the key to job growth and that the U.S. is lagging in key …

News Corp. is tough on its digital properties: Rotten Tomatoes has been sold off to Flixster. Photobucket went to Ontela. IGN had 20% staff cuts, and MySpace is dealing with co-presidents. But Fox Audience Network, the advertising arm for News Corp.'s digital assets, has trudged stoically through all the drama. The entity has grown and now powers the ads not only for MySpace and other News Corp. Web sites, but also a fairly strong set of third-party partners. Fox Audience Network is the eighth-largest advertising networks according to Comscore, with nearly 150 million U.S. unique visitors a month. And …

While a judge weighs arguments from Viacom and YouTube in a closely watched copyright Web case, a legal expert said YouTube might have the advantage of transforming into a reputable business. Viacom contended in its motion that Google acquired YouTube in 2006 because it was a "haven of infringement" and planned to profit from it. Google in its own motion alleged that after filing the suit Viacom secretly uploaded video content to YouTube, "even while publicly complaining about its presence there." While industry watchers feel YouTube and Viacom each scored points, YouTube's evolution into a recognizable brand may give …

The FTC may soon go after shady online advertisers, wielding more power over the business, which is spreading fear in publishers, ad networks, agencies and even their clients. Virginia Congressman Rick Boucher is set to introduce a consumer privacy bill over the next few weeks that will likely impact the entire $25 billion online ad market, according to sources. The bill would grant expanded powers to the Federal Trade Commission, which could theoretically go after suspect advertisers or data abusers faster, hit them harder and punish any other companies that enabled their illegitimate activities. Web users would have …

NBC is unveiling an online-video viewer placed in the midst of other interactive content related to the program a fan chooses. NBC Universal, NBC.com's online video content will be embedded in the "30 Rock" or "Office" page, rather than send viewers elsewhere. Anheuser-Busch InBev's Bud Light Golden Wheat is being incorporated into the experience as a sponsor, and will "bring" viewers a choice of watching their video in standard or HD. The new design makes it easier for fans to take quizzes, choose deleted scenes or read blogs tied to their favorite program. The move hopes to beef …

Former daytime talk show star Rosie O'Donnell is ready for her comeback. Her new show, orchestrated by two Warner Bros executives, Dick Robertson and Scott Carlin, who engineered her first talkie, will have more of a political sensibility. Sources say Rory Kennedy, the daughter of Robert F. Kennedy, known for shooting documentaries, is on board to executive produce. The departure of Oprah Winfrey in 2011 will leave a hole in the talk-show marketplace, O'Donnell will still face challenges, as her outspoken style may be polarizing to some TV stations. The show may be distributed on cable as well.

As more marketers turn to Web video, many are increasingly doing so in addition to, rather in place of, television. Take, for instance, "The Next Round Served Up by Jim Beam," a Web series for Jim Beam bourbon that ESPN plans to introduce on April 4. Although the Webisodes will be on ESPN.com, excerpts will appear during the first commercial breaks on 11 p.m. episodes of "SportsCenter" on the ESPN cable channel. The pairings of Web video and television reflect a belief that the old and new media can coexist and benefit from each other. That idea has been reinforced …