Current TV, the network co-founded by former US vice-president Al Gore, was sold for about $500m (€383m) to Al Jazeera, the Qatar-based news channel, according to two people with knowledge of the deal.

On the day before the US presidential election, stock indexes managed slight gains in thin trading.

P. Diddy is launching a new music-themed cable network.

A growing belief that the US is heading towards recession gave the stock market its fourth straight week of losses.

Profit-taking and a larger-than-expected decline in consumer confidence put pressure on US stocks today, but the market still managed to hang on to most of its huge rally.

The movie industry is hunting down digital film swappers and blocking their internet connection.

Bob Pittman has stepped down as chief operating officer of AOL Time Warner in a shake-up at the world’s largest media company.

AOL Time Warner Inc's America Online Inc said that it now has over 34 million subscribers globally, with customers using the internet service for more than 1 billion hours total a month.