Viacom's Paramount Pictures will begin producing TV shows again -- "eight years after ceding that business to CBS Corp.,  which like Viacom is controlled by [Sumner] Redstone," writes Ben Fritz and William Launder.  First project will be a series based on the movie "Beverly Hills Cop," which like the film will star Eddie Murphy. "The move is the latest sign of competition between CBS and Viacom, which were split at the end of 2005 in a move aimed at giving investors a clearer choice between Viacom as a pure play content business and CBS as a broadcaster."

Outdoor Channel "received an unsolicited $227 million takeover bid from Kroenke Sports & Entertainment LLC," which it has begun discussing with the company --  putting in jeopardy a previously announced plan to merge with InterMedia Outdoor Holdings Inc., writes Crayton Harrison.

This spring ABC Networks ABC, ABC Family and ESPN will begin offering "advertisers guarantees for video programming distributed both on television and online," writes Bill Carter. “We are seeing a rapidly growing demand for cross-platform deals,” is the money quote from Adam Gerber, vice president of sales development and marketing for ABC.

Proving that so-called traditional media can still do a great job of analyzing the repercussions of the digital age, Emily Bazelon's excellent piece on how to stop cyberbullying is "the inside story of how experts at Facebook, computer scientists at MIT, and even members of the hacker collective Anonymous are hunting for solutions to an increasingly tricky problem."

Keith Olbermann has been angling to get back to his old workplace, ESPN -- but so far the sports network's president, John Skipper, has "indicated that a return for Olbermann was not imminent," writes James Andrew Miller. Meanwhile, Olbermann "was in Los Angeles on Friday being deposed for a reported $70 million lawsuit he filed against his most recent employer, Current TV,  with the trial expected to begin in May."

New York legislators who had approved a tougher gun law are now looking to add an exemption for TV and movie productions filming in the state. "The revised law would allow filmmakers to use real weapons without real ammunition," according to  Deadline.com reporters.

NBC Universal is talking to "several Internet service providers" about providing them with "a full lineup of programming comparable to what it offers traditional pay TV providers," writes Multichannel News' Todd Spangler. That's official, on-the-record news, part of Comcast's annual report to the FCC. in less-official news -- according to "two high-level industry sources" -- NBC is considering an exit plan for "The Tonight Show"'s Jay Leno in which the host would retire after the 2013-2014 season, to be replaced by Jimmy Fallon. "Sources believe the network will bring in Fallon partly out of concern about the …

Warren Buffett, whose Berkshire Hathway now owns 28 newspapers and will likely buy more, sees the independently owned Arkansas Democrat-Gazette as a role model for retaining circulation in the digital age. That the paper "was quick to charge for stories online as the industry shifted to the Internet," was a big part of its success, as Buffett notes in a letter to Berkshire shareholders paraphrased by Bloomberg reporters. "Local newspapers that deliver reliable information to 'tightly-bound communities' with a sensible Internet strategy will stay viable, Buffett wrote."