Depending on who is doing the measuring, The Weather Channel is one of the most widely watched 24-hour cable networks. Weather.com is among the top 15 or 20 most visited websites in the U.S. Since there are very few media properties of this size on the block, they are especially valuable.

Landmark, the owner of The Weather Channel, has put it on the block. It wanted $5 billion. The rumors are that it will get $3.5 billion on a good day. The last two companies kicking the tires were Time Warner (NYSE: TWX) and NBC Universal. TWX has apparently dropped out.

Although the media conglomerate has over $9 billion in money coming in as it finishes its spin-off of Time Warner Cable (NYSE: TWC), management cannot afford to be viewed as overanxious. Paying too much for a large asset would not make the new era of shareholder value under recently appointed CEO Jeff Bewkes look like it is off to a terribly good start.

According to The Wall Street Journal (subscription required), "Time Warner withdrew after Landmark told the media company it needed more time to make a decision." That probably means the seller is holding out for more cash.

For Time Warner, it is a shame. Its cable networks, CNN and Turner, do particularly well. Putting The Weather Channel with them would have built that business. Online, TWX has big properties like AOL and CNN.com, making Weather.com a good marriage.

It all made sense, except the price.

Douglas A. McIntyre is an editor at 247wallst.com.

This post is part of our Battle of the Brands feature. Let us know which brand you prefer, and check out other Battle of the Brands posts.

The heads of CNN, Fox News, and MSNBC along with their corporate masters at Time Warner Inc. (NYSE: TWX), News Corp. (NYSE: NWS) and General Electric Co. (NYSE: GE) must be giggling with delight at the prospect of the Democratic presidential race continuing past the hotly contested race in Pennsylvania.

After all, controversy means more viewers, which of course means more advertising dollars. They probably wish that the Democrats would beat each other up in 30-second TV spots every year, but alas Americans elect a president every four years, which is probably a good thing for everybody. Still, the cable networks are going to ride this gravy train for as long as they can.

Like anything else in cable news, picking a winner in this battle of the brands depends on how you look at it. Fox, the home of Bill O'Reilly and Shepherd Smith, attracted 1.89 million viewers during Monday's prime time, the most of any network, according to Nielsen data cited by TVNewser. CNN attracted 1.03 million on its main network and 572,000 on its Headline News channel, while MSNBC was watched by 676,000.

Before conservatives start declaring Fox the top cable network yet again, remember that statistic does not represent the whole picture. Cable news advertisers are most interested in viewers aged 25 to 54 who are most likely to be interested in buying mutual funds and other products that they are shilling. That's where things get interesting.

It is a lawsuit which will never be won, but it does show how upset the Chinese are about being attacked for problems with their exports. Drug components for products like blood thinner Heparin are blamed for over 80 deaths in the US. Some of these components came from China. There have also been health issues with lead-paint-based toys which have been exported to US companies The paint is dangerous for children.

A group of citizens in China is sick of the US bully kicking sand in its faces. They have filed a $1.3 billion lawsuit against CNN, a unit of Time Warner (NYSE: TWX). The legal action represents $1 for each person in the world's most populated country. The current suit was launched by a Chinese primary school teacher and a beautician. There is also a suit by 14 mainland lawyers pending.

According to Reuters, "The case (is) against the Atlanta-based cable channel, its parent company Turner Broadcasting and Jack Cafferty, the offending commentator." Cafferty said "They're basically the same bunch of goons and thugs they've been for the last 50 years" when referring to the Chinese who had sent lead-painted toys to the US.

Is the story a worthwhile one for the press to cover? Probably not. It really belongs in the entertainment sections of news programs and newspapers.

But the media will put it on the front page everywhere because no one can make up a story like this one.

Douglas A. McIntyre is an editor at 247wallst.com.

CBS (NYSE: CBS) closed at $22.51 Monday.

The New York Times reported CBS has been in discussions with TWX about a deal to outsource some of its news-gathering operations to CNN.

CBS overall option implied volatility of 33 is near its 26-week average according to Track Data, suggesting non-directional fluctuations.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Super Tuesday had a super payoff for CNN.

The Time Warner Inc. (NYSE: TWX) cable channel attracted 3.6 million viewers, beating out Fox News Channel which had 3.5 million and MSNBC -- which I prefer -- which had 2.1 million viewers between 8 and 11 p.m., according to The Los Angeles Times. Before you NPR listeners raise your Starbucks cafe au laits in triumph, remember that one night does not make a trend. Fox still rules the ratings roost overall.

This does underscore a few trends. One is that Fox is no longer the only voice of conservative thought on cable TV with the likes of Lou Dobbs on CNN and Pat Buchanan on MSNBC. Also, the far right brand of conservatism espoused by Fox may be out of favor. The presumptive Republican nominee John McCain is hardly a favorite of the far right even though he's trying really hard to mend fences ahead of the general election.

News Corp., though, is not hurting. During the second-quarter, operating income from its cable channels rose 34% to $1.24 billion as higher revenue from Fox News Channel and the other networks more than off set the startup costs at Fox Business Network and the Big Ten Network.

When Rupert Murdoch's News Corp. (NYSE: NWS) first announced plans to start a cable channel to compete against CNBC, I was psyched. At least, I thought, there would be an alternative to the General Electric Co. (NYSE: GE) channel's must yell TV format. Boy was I wrong.

In its brief existence, Fox Business Network has largely distinguished itself for being undistinguished, making some unbelievably stupid mistakes such as confusing Apple Inc. (NASDAQ: AAPL) with Abu Dhabi. More recently, the anchors of the show "Fox Business Happy Hour", Cody Willard and Tracy Byrnes, appeared a little too happy during a segment on of all things drunk driving. Call it an occupational hazard of hosting a show at a bar. Missing in all of this merriment was one crucial thing: breaking news.

(Note: I crossed paths with Willard and Byrnes at TheStreet.com though I never worked directly with either of them.)

Time Warner Inc.'s (NYSE: TWX) new Chief Executive Jeffrey Bewkes will have plenty to talk about when the world's largest media conglomerate -- and parent of BloggingStocks -- reports fourth quarter results tomorrow.

The results themselves aren't going to be anything spectacular. Analysts expect earnings of 29 cents on revenue of $12.64 billion, according to Thomson Financial. As usual, the focus will be on AOL, in particular how much gains in advertising offset the declines in the dial-up business. Also, the company will need to detail its plans for the cable business which may be hurt by an economic slowdown. The future of the publishing business also remains in doubt as advertisers continue to flee print for online media.

Microsoft Corp.'s (NASDAQ: MSFT) $44.6 billion bid for Yahoo Inc. (NASDAQ: YHOO) only adds to the confusion. Will investors give Bewkes enough time to transform AOL's business to an ad-supported model? The strategy is the correct one though it was initiated about two years too late. But given the premium that Microsoft is offering for Yahoo, investors are bound to pressure Bewkes to make a similar deal for AOL, which today bought the online marketing company buy.at.

The Weather Channel, held by family-owned Landmark Communications of Virginia, is being auctioned off along with the rest of Landmark, and could fetch $5 billion. A number of public companies may have an interest. According to The New York Times, firms looking at the property include Comcast (NASDAQ: CMCSA) and General Electric (NYSE: GE).

The Weather Channel is attractive for two reasons. The first is that there are very few large, independent cable networks. Most, including CNN, CNBC, ESPN, and MTV, are already owned by media giants. The chance to pick up another large advertising-supported 24-hour product should be very attractive.

The second tremendous selling point is that weather.com, the online arm of the company, is one of the most-visited sites in the U.S. In November, comScore ranked it as the 16th most-visited website, with 34.1 million unique visitors. That puts it ahead of ESPN.com, CBS.com, and the Viacom (NYSE: VIA) digital properties.

The Weather Channel is a rare prize. The bidding should be spirited.

Douglas A. McIntyre is an editor at 247wallst.com.

Sources close to CNN broadcast journalist/commentator Lou Dobbs said he is seriously considering a run for the U.S. presidency in 2008, The Wall Street Journal reported.

Dobbs, who formerly hosted CNN's MoneyLine business news show and currently hosts CNN's Lou Dobbs Tonight has seen both his ratings and his name recognition rise after his work's focus turned away from news reporting and anchoring and toward political and economic commentary.

Dobbs, an independent, displays an ideology and a political world view that many have characterized as a modified hybrid of Ralph Nader and Pat Buchanan -- i.e. populism combined with strong views against free trade (or current trade frameworks) and against illegal immigration.

Dobbs is a frequent critic of both the Democratic and Republican parties, which he argues don't represent the interests of the typical person or the middle class. His show's website describes him as "an independent populist and the leading media advocate for working men and women, their families, our middle class and the American way of life."

Political Analysis: Unless there's a tidal wave of discontent in the American electorate not tallied by pollsters, Dobbs, as a third-party candidate or as an Independent, has virtually no chance of being elected president of the United States. Although his name recognition is rising and he has a positive public image, it's highly unlikely Dobbs could assemble the campaign staff and money required to compete effectively against Democratic and Republican parties' nominees.

However, this is not to say that Dobbs could not broaden the discourse, i.e. "force the discussion of less-publicized issues" during a debate. Dobbs could accomplish this, but it must be emphasized that making points in a debate is a much easier task than receiving enough votes to win the electoral college vote for U.S. president.

CNN Worldwide, a part of the Time Warner Inc. (NYSE:TWX) franchise, is expanding its staff of correspondents by 10% as it looks to increase its original content. The investment is said to be under $10 million and will add about 16 correspondents to its staff of 150.

About two months ago, CNN announced it was abandoning the relationship with Reuters Group PLC (NASDAQ:RTRSY) and would instead bolster its own news capabilities. The idea is to capture more advertising by owning the content as the content can simultaneously be pushed out over multiple distribution platforms.

What is interesting here, is that the focus is in the United Arab Emirates, where CNN operates CNN.com Arabic. It will use some of the investment for a digital production unit in London, as well as to increase its staff in Hong Kong. Mexico City and Johannesburg. Additional staff, and news operations are being planned in Belgium, Poland, India, Afghanistan, Nigeria, Kenya, Malaysia, the Philippines, and Vietnam.

Over the past several months Wall Street experts have been debating whether or not America is headed to a recession, and according to a new CNN poll, a large percentage of Americans think that the country has already entered a recession.

Concerns over a possible recession have been lingering for most of the year, as housing prices have steadily fallen, while prices for gas and food continue to rise. But the sentiment really started to take hold this summer as the subprime mortgage meltdown started to spread. These concerns are only going to grow today after a weak Bank of America Corp (NYSE: BAC) earnings release.

As the weak housing market continues to deteriorate CNN finds that nearly half of all Americans are now under the impression the country is already in a recession. According to its recent poll, 46 percent of U.S. residents believe the country is in a recession, with 51 percent thinking we have not.

The report also showed that black Americans are taking a much more pessimistic stance on the current economy. CNN shows that 69% of all black Americans feel the country is in recession, while only 42% of white Americans think this is the case.

When Fox Busines Network debuts on October 15, it will be a fly buzzing around the elephant that is CNBC. All the talk about the looming war, battle, or clash of the titans is hype.

As BusinessWeek points out, Fox Business Network will have one-third of CNBC's reach and will also lag behind Bloomberg TV. News Corp. (NYSE: NWS) Chief Executive Rupert Murdoch has said his channel will be geared toward Main Street instead of CNBC's Wall Street focus. I don't know what that statement means. CNBC's mission is to try and convince individual investors they must act RIGHT NOW to avoid financial ruin or to gain immediate riches. That seems to speak directly to Main Street.

Murdoch, though, is a patient man. People thought he was nuts to take on Time Warner Inc.'s (NYSE: TWX) CNN, and now Fox News rules the ratings. He keeps the New York Post going because he wants to stick it to the liberal media establishment A.K.A. The New York Times. Power motivates him almost as much as money. That's why the media tycoon doesn't care if Fox Business News isn't immediately profitable or even if it takes some time to get into the black. He's trying to prove a point.

The biggest challenge facing Fox Business News is the same one facing the General Electric Co. (NYSE: GE) cable channel: attracting an audience. For most people who don't read stock market blogs, business news is pretty dry stuff. That's why CNBC's anchors always yell the news written in their teleprompters to make things seem more exciting.

After looking through some web postings internally, there was a very interesting article regarding Time Warner Inc. (NYSE: TWX) that can be indirectly inferred to Time Warner Cable Inc. (NYSE:TWC) and all units of the media conglomerate. The article "For Time Warner, a time to break up?" is available on the CNNMoney.com website, but is really a FORTUNE Magazine article. FORTUNE and CNN are both properties of Time Warner Inc.

The article is basically predicting that Jeff Bewkes will soon replace Dick Parsons as the Chairman & CEO of the parent company. It also points to a recent anvil weighing on the transition -- the sagging stock price of Time Warner. The truth is that the first real wave of the transition took hold in 2006 when the company separated Time Warner Cable and used financial leverage to buy back billions of dollars worth of stock. That buyback did continue, but 2006 was the year the buyback was felt the most as the stock rose nearly 50% from its lows.

While the article does not call for major changes, it notes how Time Warner produces more cash flow than its rivals, although News Corp. (NYSE: NWS) and Walt Disney Co. (NYSE: DIS) have outperformed as stocks. The article goes on to mention that Bewkes has noted that other media break-ups may not be yielding much upside, and that he agrees with Parsons for now that the combined entity is worth more than the pieces as unaffiliated entities.

Regardless of the many twists and turns in the article, this seemed odd coming out of FORTUNE. I laid out my own scenario where the company could float a portion of AOL as a tracking stock, a scenario that still seems quite likely. Rather than an entire spin-out of the cable assets, it seems to me that the media giant should at least maintain a large stake (if not an outright 50% plus 1 vote majority) in the cable company, and that any analyst calls to the contrary are misplaced. It is easy to call for break-ups in a bull market to unlock more value, but there are many more defensive and stabilizing strategies for a giant to weather harder times.

Suspended Atlanta Falcons quarterback Michael Vick's best chance at public redemption lies with Oprah Winfrey. At least that's the conclusion of Detroit Free Press columnist Drew Sharp, who makes a convincing argument that "now that pop culture dictates news judgment, it's only appropriate that a pop culture diva quite possibly holds the key to Michael Vick's NFL future."

Vick should take Sharp's advice. If Vick goes on Oprah, his handlers would no doubt encourage him to cry, talk about "finding Jesus" and encourage young people to make smart decisions. Unfortunately for Vick, the road to redemption starts with the talk show queen. Vick will have to spend the next few months apologizing until the American public is sick of seeing his face.

The question for Vick's handlers is where to go after Oprah.

Will he try to reach NFL fans through Walt Disney Co.'s (NYSE: DIS) ESPN cable network or News Corp.'s (NYSE: NWS) Fox?

What about the morning shows? You can bet that ABC, General Electric Co.'s (NYSE: GE) NBC and CBS Corp. (NYSE: CBS) would kill to land an interview with the disgraced athlete. "Dateline" and "60 Minutes" are probably working on stories about the evils of dog fighting. The story also continues to be the gift that keeps on giving for Time Warner Inc.'s (NYSE: TWX) CNN, Fox News channel, and MSNBC.

But I am not sure that all of the apologizing in the world can save Vick's NFL career. People understand that young, rich athletes misbehave and occasionally break the law. But Vick's behavior was so heinous that it defies explanation.

Google Inc. (NASDAQ: GOOG) has signed an exclusive pact with Time Warner Inc.'s (NYSE: TWX) CNN unit to use Google's AdSense advertising program for text-based ads.

The AdSense service will place contextually relevant ads alongside CNN.com content, allowing both small and large advertisers to target CNN.com specifically. Google will serve as the exclusive provider of auction-based text advertisements throughout CNN.com.

Without seeing the contracts it is impossible to know how this ad money will be divided, and it isn't known if Google had to pony up cash or any guarantees to get this on an exclusive basis. The Google pact isn't exactly a huge surprise either because if you look at the CNN.com site, its search function already has the "POWERED BY GOOGLE" feature.

It may be a surprise that CNN isn't using the Advertising.com platform, although it would seem a safe bet that this could fuel all sorts of speculation between the two platforms. After the strong advertising reach the company showed in the most recent comScore data it would seem quite a strong platform. This also brings more 'outside revenues' rather than one Time Warner unit generating revenue for another unit. CNN is not part of AOL so this would 'likely' be independent of any future arrangements between the two companies.

Update (Aug 29): An email sent to me from a CNN employee states that the relationship is still there and this will not affect the Advertising.com pact with CNN.

Jon Ogg is a partner in 24/7 Wall St., LLC; he produces the Special Situation Investing Newsletter and does not own securities in the companies he covers.

News Corp.'s (NYSE: NWS) Fox News channel received praise from an unlikely source: former CNN anchor Aaron Brown.

In an interview with TV Newser, Brown described Fox as "very disciplined, ratings-directed news organization, or whatever they are" and CNN as "an organization that is trying to figure out if it can be all things to all people."

Though Brown is bitter about his departure from the Time Warner Inc. (NYSE: TWX) network, he does have a point. Fox didn't only win the cable ratings war because of politics. It hired better broadcasters and put out more memorable shows. Roger Ailes figured out early that people tune into cable expecting opinions and that's what Fox gave them.

CNN has fought back though, adding blowhards such as Glenn Beck and Nancy Grace, CNN Headline News does decently in the ratings. Lou Dobbs' crusade against illegal immigration also has resonated with the public, which is kind of scary. It's also scored its share of scoops including Larry King's Paris Hilton interview. (Yeah she's horrible, but people are interested).