The IPO market has been pretty slow for the past two years due to the effects of a subprime mortgage crisis that turned into a credit crisis that turned into a worldwide financial crisis and recession. Nonetheless, two companies made their debuts Thursday -- one on the NYSE (NYSE: NYX), the other on the NASDAQ -- and they nailed it. Hyatt Hotels (NYSE: H) gave its investors a 12% gain on its first Big Board trading day, and Ancestry.com (NASDAQ: ACOM) switched those digits, jumping 21% in its first day of trading.

Hyatt Hotels overcame two major concerns. The worldwide travel market slump has been tough on hotel companies, and Hyatt has been subject to the same forces as everyone else. Also, investors may have been worried about infighting among the founder's heirs (the Pritzker family), but the double-digit price increase suggests that investors don't foresee Bancroft-style squabbles screwing investors -- or, if you don't like Dow Jones, now a part of News Corp (NASDAQ: NWS), Playboy (NYSE: PLA) makes the same point.

The mayhem in the media industry continues. The Wall Street Journal, a News Corp (NASDAQ: NWS) property, is closing its Boston bureau and sending nine employees into the wind. The newswire and MarketWatch operations are going to stay open in Boston, however, with no headcount impact.

The Journal doesn't have any plans to close other offices, according to a memo by managing editor Robert Thomson: "there are no plans, nascent or otherwise, to close any other U.S. or international bureau." The WSJ will still support an "investigative function" in Boston, but the New York-based Money and Investing team will cover Boston's mutual fund industry, which boasts such heavy hitters as Fidelity.

At the same time, magazine company Time Inc., owned by Time Warner (NYSE: TWX) is looking to cut $100 million in expenses, and layoffs will undoubtedly figure into the equation. The company that owns Time, Fortune, People and Sports Illustrated – and falls under the same umbrella as AOL, which owns BloggingStocks – is feeling the squeeze of a media recession that's even worse than the regular recession we've all been battling for what feels like decades.

Google (NASDAQ: GOOG) makes it easier to search for websites, e-mail messages, passages from books and videos. Where you haven't heard much about Google's search capabilities -- or Google in general -- is the music business.

But, that's about to change. On Wednesday, the search giant announced that it was partnering with music services such as Pandora, Lala, News Corp's (NASDAQ: NWS) MySpace, and Rhapsody by RealNetworks (NASDAQ: RNWK) to help users find, listen to and ultimately buy music on the web.

It took a while, but the broadcast media community is starting to realize that Nielsen Media may not have the answers to all their audience-related questions.

So, 14 of the largest players in the space -- including programmers, advertisers, and ad buyers -- are shelling out some cash to see if there's a better way. The group claims it isn't looking for an alternative to Nielsen ... but let's do the math on this one. If they aren't looking for some new choices, then just what the hell are they doing?

Nielsen ratings have always been an imperfect system of projecting who is watching what when. The advent of DVR technology and internet-streamed programming have made the television ratings game even more challenging.

So the major TV companies -- General Electric's (NYSE: GE) NBC Universal, Time Warner (NYSE: TWX), News Corp. (NYSE: NWS), Viacom (NYSE: VIA), CBS Corp. (NYSE: CBS), and Walt Disney (NYSE: DIS) -- have teamed together to fight against Nielsen, which not only delivers arguably flawed data, but charges a hefty fee to do so.

Love him or hate him (I'm ... ahem ... in the first camp), you have to admit his career's been impressive. Ryan Seacrest has parlayed his American Idol hosting gig into a lucrative $45 million, three-year deal. CKX, parent of Idol producer 19 Entertainment, is making Seacrest the richest-ever reality host. Recession, out!

This could be taken as a sign that the juggernaut known as American Idol is far from slowing down. The "talent" showcase, which airs for dozens and dozens of hours each spring on News Corp.'s (NYSE: NWS) FOX, has seen ratings slip slightly during its eight seasons but remains the top-rated show on television, by a long shot. Committing to Seacrest for an additional three years means we'll have at least three more dramatic seasons, three more top twelves, and hopefully at least three more contestants with the talent of Adam Lambert, Jennifer Hudson, or Kelly Clarkson.

Social networking sites gained a lot of eyeball-share last year. The time that users spent on sites like Facebook, Twitter and MySpace nearly doubled in the past year, increasing by 83% relative to April 2008. The number of minutes spent on Facebook by its 200 million active members spiked 700% year-over-year to 13.9 billion. The second most popular social networking site, MySpace, saw a 31% fall in minutes spent on the site to 4.97 billion, but ranked number one in video stream consumption.

Blogger, Tagged and Twitter took the third, fourth and fifth spots. In April 2009, the number of tweets unleashed shot up 3,712% from April 2008.

The missing link? Money.

Another day, another rally. Makes you want to buy, doesn't it? While my cold, frosty bearishness is beginning to thaw a little bit based on recent market price action, don't call me a bull just yet. Believe me, I can't wait for the day when I am completely confident about equities. That day hasn't come just yet, though.

Which brings me to the media sector. Have you checked out the one-month returns on Viacom, Inc. (NYSE: VIA), News Corporation (NYSE: NWS), and The Walt Disney Company (NYSE: DIS)? I've been watching these three stocks and have noticed that the one-month performances on all of them, as of this writing and according to AOL Finance data, are pretty good. Viacom is up something like 21%, News Corp. has advanced 16%, and Disney has appreciated by 9%. I mean, that's more than pretty good: that's wildly impressive. And it gives you a good feeling, doesn't it?

According to Boxofficemojo, Tyler Perry's Madea Goes to Jail came out on top over the weekend at domestic theaters. As of early estimates, the film brought in over $40 million, proving that Tyler Perry's name can still sell tickets. This is great news for Lions Gate Entertainment (NYSE: LGF), which was looking to score a big hit after experiencing some weak performances at the box office.

Tyler Perry beat out News Corp.'s (NYSE: NWS) successful thriller Taken, which landed in the second spot. Coming in third was Coraline from General Electric Company's (NYSE: GE) Focus Features, although those two films could change positions once final numbers are in. Both of them scored around the $11 million mark. Time Warner Inc's (NYSE: TWX) He's Just Not That Into You was fourth and News Corp.'s Slumdog Millionaire, the toast of the Oscars telecast last night, was fifth. Both of those features scored similar amounts, about $8 million each, so we'll see what happens with their respective rankings. Poor Jason Voorhees. Last week, his movie, Friday the 13th, killed at the box office. This week, the slasher dropped 80% in terms of gross and landed in sixth place after debuting in the top slot. Talk about a bloody decline for Time Warner. Horror movies do tend to go down fast after the opening weekend, but I thought this particular feature might exhibit more strength.

Fans of Joss Whedon's critically acclaimed and cult-followed shows, Buffy the Vampire Slayer and Angel, were amped about the creator/writer/director's latest project, Dollhouse. Unfortunately? Few of them tuned in.

The Eliza-Dushku mid-season effort, a sci-fi series about special agents who can be cloned with traits and personalities, saw just 4.7 million viewers tune in, nabbing a 6 share and a 2.0 rating among adults 18-49. In fact, Dollhouse was the second lowest-rated series premiere this season (on a major network). Guys? It was beaten by Supernanny, which aired on Walt Disney's (NYSE: DIS) ABC and attracted 6.1 million viewers.

Rupert Murdoch, the CEO of News Corp. (NYSE: NWS) paid what most people thought was the limit of the rational price when he bought Dow Jones over a year ago for $5 billion. His company has already been forced to write-down a part of that in its earnings report for 2008. But, Dow Jones might be only worth $500 million or $1 billion if it were still public today.

A quick look at the Saturday Wall Street Journal shows a paper in four sections, each very thin. When all the ads for Dow Jones products are subtracted, there are about three paid pages of advertising left. That has to create a really large loss.

Whoa, what a terrible quarter for Disney (NYSE: DIS)! Forget the magic. There's no magic going on at Disney. For the fiscal first quarter, revenues decreased 8%, earnings per share decreased 29%, operational cash flow decreased 60%, and free cash flow was negative. Decrease, decrease, decrease! Looks like Disney's brands cannot fend off a recession, no question. Sorry, Jonas Brothers and Hannah Montana.

Disney, which competes with Time Warner (NYSE: TWX), CBS (NYSE: CBS), Viacom (NYSE: VIA), News Corp. (NYSE: NWS) and General Electric's (NYSE: GE) NBC Universal, earned, after taking out a $0.04 per-share benefit from an investment sale, $0.41 per share. According to my earnings preview, the call was for around $0.52 per share. Well, I thought the Mouse was going to miss, but I think I characterized the potential miss as maybe being on the "slight" side. Yeah, this wasn't a slight miss.

Disney (NYSE: DIS) will be reporting earnings for the fiscal first quarter Tuesday after the market close. There shouldn't be any growth in the bottom line. Of course, no one should be surprised by that. After all, this is Disney we're talking about, a company which provides goods and services that can easily be cut out of any consumer budget. Remember, conservation of cash is becoming quite the fad.

According to this source, Disney may earn $0.52 per share.That would represent a contraction of $0.11, or 17%. The big question is whether or not Disney will miss. If it does, investors won't be happy, because it'll be the second miss in a row. Wall Street was previously accustomed to seeing the Mouse religiously beat the analysts at their holy game. But Q4 changed the story.

Sony (NYSE: SNE) had a great weekend at the domestic box office. According to Boxofficemojo, two of the company's film products, Paul Blart: Mall Cop and Underworld: Rise of the Lycans, came in first and second, respectively, on the movie charts. This is the second weekend in a row at the top for Blart, and early estimates available at the time of this writing credit the comedy with $21.5 million for the three-day period. Underworld so far seems to have about $20.5 million in the bank, but whereas these are estimates, the numbers and rankings could change.

You've got to praise Sony for the marketing campaigns behind both features. The fact that Underworld virtually made as much as the more accessible comedy is pretty impressive to me. Those Underworld commercials were on all the right channels, and I bet they hit the demo that's still riding high from the success of Summit Entertainment's Twilight perfectly (in case you're not familiar, both pictures feature vampires). Twilight has so far grossed well over $180 million.

Time Warner's (NYSE: TWX) Gran Torino came in third, and Viacom's (NYSE: VIA) modest performer, Hotel for Dogs, was fourth. That latter picture has barked up (it's a tradition in the trade to use goofy puns when covering box-office results, sorry) a total of approximately $37 million at this point. Not too great, to be honest. But News Corp.s (NYSE: NWS) Slumdog Millionaire is moving up in the ranks thanks to the Oscar nominations surrounding it and a wider release pattern. It increased in rank to fifth place and has achieved a total tally of $56 million. Look for this one to hit $100 million.

Russian business runs on different rules. News Corp.'s (NYSE: NWS) Rupert Murdoch, who has been doing business in China for years, is nervous about his Russian enterprises. This morning, the FBI announced it had rounded up a ring of data thieves, many from former Soviet Union countries. And then there's the little matter of BP-TNK, a joint venture between BP (NYSE: BP) and a Russian company, whose Russian shareholders are booting out its Western executives so they can take over the operation.

Here's what Silicon Alley insider reports Murdoch had to say about doing business in Russia: "We have great growing business there but just -- this is purely me, I'm sorry, I'm -- the more I read about investments in Russia, the less I like the feel of it. The more successful we'd be, the more vulnerable we'd be to have it stolen from us, so there we sell now."

In case you missed it, The Detroit Free Press reports that an international ring of data thieves used wardriving -- the practice of stealing data from unprotected Wi-Fi networks -- to take 40 million identities, use the information to print fake ATM cards, and steal millions of dollars. The corporate victims include customers of TJX (NYSE: TJX), Barnes & Noble (NYSE: BKS), and OfficeMax (NYSE: OMX). Five of the 11 defendants are from former Soviet Union countries -- "one is from Estonia, three are from Ukraine, and one is from Belarus."