Canadians crossing border into U.S. prime time
Seeking new, scripted shows to fill the programming gap resulting from the writers strike, top broadcast TV networks reportedly are looking to program creators to the North to supply them with shows. “Canada is the next big thing,” one U.S. agent said. The Hollywood Reporter

Microsoft bids $44.6B for Yahoo!
Microsoft has proposed to acquire struggling Web portal Yahoo! for $44.6 billion, or $31 per share — a significant premium over yesterday’s closing price. The offer was contained in a letter sent Thursday to the Yahoo! board by Microsoft CEO Steve Ballmer. In an accompanying statement, Ballmer wrote, “We believe our combination will deliver superior value to our respective shareholders and better choice and innovation to our customers and industry partners.” Yahoo! issued a statement saying it intends to “evaluate this proposal carefully and promptly in the context of Yahoo’s strategic plans and pursue the best course of action to maximize long-term value for shareholders.” The New York Times, The Wall Street Journal (subscription required)

Martin: $1.4M fine against ABC appropriate
A collective $1.4 million indecency fine leveled against ABC stations for airing a particular episode of the “NYPD Blue” series was an appropriate measure, notwithstanding the fact that the series is no longer on the air, FCC Chairman Kevin Martin said Thursday. “The commission has an obligation to enforce its indecency rules. This was a decision that was made 5-0,” Martin said. Radio Ink

Wireless spectrum bidding reaches record $15.6B
Bidding in the FCC’s wireless spectrum auction stood at a record $15.6 billion on Thursday. Bidding on the “C block” of open access spectrum passed the $4.6 billion threshold triggering an “open access” provision that will require the winning bidder to create a wireless network that allows consumers greater choice in their handsets and software. Yahoo!/Associated Press

Analysis: Opportunities, challenges ahead for TV station business
Following a “watershed” year in which nearly 300 TV stations were bought and sold in transactions valued at $4.6 billion, the U.S. TV station sector should remain in a strong position in 2008, helped by the revenue-generating Olympics and presidential election, but it could slow down next year, analysts say. The threat of a recession and new competition from broadband video pose challenges for TV stations both in terms of viewership and ad revenue, according to this article. The Hollywood Reporter