Rob Black's Media Stock Report

 |  Includes: LMCA, NWS, TWX, WMT
by: Rob Black
News Corp. (NASDAQ:NWS), in a sign that it is considering exiting from the U.S. satellite-TV industry, is in talks with Liberty Media (LCAPA) to trade its controlling stake in DirecTV Group Inc. to Liberty in exchange for Liberty's stake in News Corp., according to a person close to the situation.

AOL (NYSE:TWX) Vice Chairman Ted Leonsis, one of the online service's longest-serving executives, will relinquish his operational duties at the end of the year. Mr. Leonsis is one of the last remaining members of AOL's old guard, having been with the firm since 1993. He owns a majority stake in the National Hockey League's Washington Capitals.

Wal-Mart Stores (NYSE:WMT)
will launch its first credit card in China in conjunction with China's Bank of Communications. Wal-Mart officials reportedly confirmed the upcoming announcement. Wal-Mart said the card is a regular credit card that will provide users special discounts at its stores, the WSJ reported on its Web site, and said it will be a dual currency card that can be used outside of China.