Newspaper wrap-up 7-03-07: News Corp buys two papers

MAJOR PAPERS:

Bear Stearns Companies Inc (NYSE: BSC) will reinforce the risk controls in its money management unit following the meltdown of two of its internal hedge funds tied to subprime loans, reported the Wall Street Journal.
According to the Wall Street Journal, Nokia Siemens Networks, a joint venture between Nokia Corporation (NYSE: NOK) and Siemens AG (NYSE: SI), will invest about $100M in India over the next three years.
Consumers are going to buy many more large liquid crystal display, or LCD, flat screen TVs than large plasma flat screen TVs, reported the Financial Times.

OTHER PAPERS:

News Corporation (NYSE: NWS) has acquired two weekly newspapers in the Bronx, The Bronx Times and The Bronx Times Reporter, reported the New York Times.
Google Inc (NADSAQ: GOOG) has announced the acquisition of start-up company GrandCentral Communications on its official blog website, Google.Blogspot.com.

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