Yahoo! said to reach out to News Corp for possible alliance
Yahoo! and News Corp. reportedly are in talks about a possible alliance that could include merging New Corp’s online social network MySpace and additional online properties into Yahoo! in exchange for a significant ownership stake in the company. The Web portal is pursuing alliances with a number of companies in an effort to stave off a hostile $31-per-share takeover bid from Microsoft, or possibly to entice Microsoft to sweeten its own offer. The Wall Street Journal (free content), The Times (London)

Fresh creative to debut on Oscar’s red carpet
J.C. Penney Co., Unilever and MasterCard are among the Academy Awards sponsors hoping to channel the hype commonly associated with Super Bowl ads by unveiling new creative on the night of the broadcast. Many of the spots will direct viewers online for contests and other promotions. “To try new, innovative ways to reach consumers is the way to go,” said Chris Jogis, VP for U.S. brand marketing at MasterCard, in Purchase, N.Y. The New York Times

DTV transition gets half-hour special on NBC O&Os
“Get Ready for Digital TV,” a half-hour special on the DTV transition created by NBC’s owned-and-operated WNBC-TV New York, is scheduled to air this weekend, one year before the DTV deadline. The program also is to be shown on NBC O&O outlets in cities including Los Angeles, Chicago and Philadelphia. TVNEWSDAY (free registration)

Talkers tilt to the right
While there are radio talk-show personalities on both ends of the political spectrum, the three “most important” hosts in the U.S., according to Talkers magazine, are all comfortably ensconced on the right. The magazine listed Rush Limbaugh, Sean Hannity and Michael Savage atop its annual “Heavy Hundred” list. The Washington Times

Comcast ends payments to founder after investors cry foul
Retired Comcast founder Ralph Roberts will see his annual salary from the Philadelphia-based cable company reduced to $1 per year, after investors complained about Roberts’ lavish compensation package that included a seven-figure salary last year, and stipulated that his salary was to continue being paid to his estate for five years after his death. Shareholder Chieftain Capital Management cited the arrangement in its call to fire current CEO Brian Roberts, the founder’s son. The Wall Street Journal (subscription required)