Recently, DreamWorks Animation (NYSE: DWA) announced that it would be making more movies. According to the press release, the move calls for five movies every two years. The plan would be for one year to have the normal two projects, while the next year would have three releases.

This is an interesting scheme. It has many implications. First, it means that CEO Jeffrey Katzenberg is extremely confident in his company's ability to produce compelling content. Second, it means that he believes that 3D theaters will be more important than ever in the near future. Third, it is a direct attack against Disney's (NYSE: DIS) Pixar asset. DreamWorks Animation is, without a doubt, becoming much more cutthroat in its competitive stance.

AP reports that Liberty Mutual, the nation's largest provider of workers' compensation insurance and its sixth largest property-casualty insurer, is buying Safeco (NYSE: SAF) for $6.1 billion, a 51% premium over Tuesday's close.

Having spent years working for Liberty Mutual in the 1990s -- part of it for Gary Gregg, who heads the Agency Markets unit that will manage Safeco -- I know that this deal may well be the largest in its history. Safeco sells $5.9 billion in insurance policies a year, while Liberty booked annual premiums of $20.2 billion. Safeco has posted poor earnings and its stock has tumbled recently. Bloomberg News reports that Safeco's auto unit posted a loss at the end of 2007 because of rising medical claims and repair costs, leading to a 33% decline in fourth-quarter profit and a 19% decline in its stock in 2008 before this morning's announcement.

It looks like there will be more consolidation in the personal lines property casualty industry. Seventy one percent of analysts tracking insurers of homes, cars and businesses expect a "significant increase" in mergers in 2008, according to an Accenture (NYSE: ACN) report based on 108 stock analysts in December and January. Candidates for acquisition could include Progressive Corp. (NYSE: PGR), Mercury General (NYSE: MCY), The Hanover Insurance Group (NYSE: THG), and The Commerce Group (NYSE: CGI).

Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in the securities mentioned.

In a move that would indicate that it is not a likely buyer for Monster Worldwide Inc. (NASDAQ:MNST), Microsoft Corp. (NASDAQ: MSFT) has taken a 4% stake in CareerBuilder, the online job site controlled by three newspaper chains. This investment is hard to understand.

Microsoft gets a small stake in a business that may be valuable, but has competition from Yahoo!'s Inc. (NASD:YHOO) Hotjobs and a number of smaller sites. There have been rumors that Monster will be bought by one of the big web portals to increase access to the fast-growing online job business. The tiny equity deal with CareerBuilder seems to rule MSN out of that race.

Gannett Co. (NYSE:GCI), The Tribune Company (NYSE:TRB), and McClatchy Co. (NYSE:MNI) run CareerBuilder as a way to keep revenue from job classified ads that is moving from newspapers to the Web..

Caree Builder is the exclusive online job provider for Microsoft's MSN portal. That deal will be extened to 2013, and Microsoft will be paid about $443 million for maintaining the arrangement.

And, MSN could use all of the help it can get.

Douglas A. McIntyre is a partner at 24/7 Wall St.

Dow Jones & Company's (NYSE: DJ) Wall Street Journal (a.k.a., The Towel) occupies a unique spot in the media firmament. As I pointed out earlier in the year, it changed its footprint and now looks to me like a Holiday Inn bath towel. Towel Talk offers a perspective on its news and views.

News Corp.'s (NYSE: NWS) bid for The Towel has plunged a fiery torch into the viper's nest of conflict and ambition at the paper. And this conflict has opened up the possibility of numerous bidders and targets in the beleaguered newspaper business.

I come to this story with some conflicts of my own. I have done consulting work for News Corp.'s Chairman and CEO and have worked with several reporters from The Towel. But what I find most interesting about this takeover is that it plunges right to the heart of the conflict within The Towel between the Bancroft family, which I imagine backs the Towel's arch conservative editorial page, and the reporting side, whose union representatives have opposed the deal.