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Saudi Arabia's Prince Alwaleed bin Talal is a rich investor who holds stock in many of the world's largest companies, including Citigroup and News Corp. He's just announced his next investment: the world's largest tower.

News Corp and Apple have delayed the launch of The Daily, a digital newspaper for the iPad, which is intended to prove Rupert Murdoch's that premium editorial content can be sold and can make money online.

MySpace, the floundering social network site, may be on the verge of massive layoffs.

Twitter is mulling a new round of funding that could value the company at over $3 billion. This news comes just as Google is in negotiations to buy Groupon for as much as $6 billion. Other large Web 2.0 companies have also been given lofty valuations as well.

Like Lassie and the Brady Bunch, it seems like the Simpsons family has always been with us. And now Fox has made sure America's favorite dysfunctional animated family will stick around for another year. But as the show sheds viewers, how much longer can it remain on the air?

MSNBC head Phil Griffin now says Olbermann, who was suspended indefinitely without pay on Nov. 5, has been punished enough. Olbermann's supporters certainly felt that way, calling his suspension by MSNBC for making political donations to Democrats "outrageous" and "bizarre."

The faltering social network is relaunching as a multimedia platform aimed at Gen Y. It's a radical departure from the format that made it the world's largest social network -- before Facebook stole that crown and ran with it. The new MySpace takes more of a portal approach.

After NPR's Juan Williams' made comments about Muslims on Fox News that cost him his job with the public broadcaster, some critics argue that Fox appearances by Mara Liasson, another NPR journalist, violate NPR's ethics guidelines.

Hulu is considering raising up to $300 million in an IPO next year to add more shows to its subscription service, Reuters reported Friday. Will that be enough capital to keep Hulu competitive with Netflix, as well as services from companies such as Apple, Amazon and Wal-Mart?

Longtime gossip editor Richard Johnson's departure from the New York Post is a strong indication that owner Rupert Murdoch's patience with the money-gushing tabloid may be approaching its inevitable end.