Rob Black submits: Warner Music (TWX) has said that a merger with EMI Group will save more than $368.7 million, exceeding previous estimates.

Live Nation intends to make bid of $350 million to HOB Entertainment, which has 10 venues in the U.S. and Canada. This deal is expected to add to Live Nation’s earnings and cash flow.

ABC, CBS (CBS), Fox (FOX), NBC, the new CW and My Network TV are finding that their sales are down 3.4% from last year. The first thing stations cut is advertising, especially in the travel and automotive categories. In addition, 16% of homes are equipped with digital video recorders which can fast-forward past commercials. As a result, many advertising executives are considering the switch from television to the internet.