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Tribune Media says it intends to explore strategic and financial alternatives for the

Broadcasting Company and Federal Mogul Holdings largest shareholder, activist investor Carl Icon, offered

to buy the rest of the auto parts maker for $7 a share.

And futures are pairing their earlier losses following a second weekly gain for the

S&P 500 index. This is after China's Central Bank stepped up efforts to cushion

the country's economic slowdown. S&P E-E-Many Futures now down one and a half points, DowMee futures now down 1.5 points, Dau E-E-Mee futures down 15,

Nazdac E-Mee futures down 9, Daxin Germany down 1%.

Tenure Treasury up 3.32nd, the yield 1.75 percent,

Nimes Crudoy all up six tenths percent or 21 cents to 3299 a barrel.

Comex gold is up 9 tenths percent or $10.80 cents to 1231.30 an ounce.

The euro, $1.08.86, the yen 113.09.

That's a Bloomberg Business Flash, Tom and Mike.

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