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The U.S. must act to rein in its massive budget deficits or face the risk of a bond market crisis, former Fed Chairman Alan Greenspan said Sunday. If deficits begin to frighten the bond market, interest rates will rise, undermining the recovery, and possibly causing a double-dip recession.

President Barack Obama pushed for stricter teaching standards and a longer school year as effective methods to improve the American education system, Bloomberg News reported, citing Obama's appearance on NBC's "Today Show."

Comcast will soon control NBC but doesn't yet. Still, the cable giant is moving to put its own stamp on NBC, naming its own chief operating officer, Stephen Burke, to replace Jeff Zucker as CEO of NBC Universal.

NBC Universal chief Jeff Zucker is leaving the company ahead of its impending merger with cable giant Comcast. Zucker said he made the decision because NBC Universal's new owners "deserve the chance to implement their own vision."

Apple introduced a new version of Apple TV on Wednesday with shows from just two networks, as big media companies including General Electric's NBC Universal, CBS and Viacom remain hesitant to get on board. The new $99 Apple TV will allow users to rent TV shows for 99 cents, due to partnerships...

The Primetime Emmy Awards Show continues to rebound with host Jimmy Fallon. The bold and new, like Glee, were rewarded, while former favorites, like Lost, were forgotten.

Google is talking to Hollywood studios about a pay-per-view video service based on YouTube, according to a new report. The move comes as Google girds for battle with Apple, and telecom and media companies jostle for control over the next generation of high-speed content delivery.

Prestige means a lot in Hollywood. TV companies use a show's Emmy Award to help sell commercials, and advertisers enjoy being linked with hot shows. Sometimes, an Emmy can even help a program avoid the ax.

According to Bloomberg, Apple is gearing up for a media event on Sept. 7 at which Apple is rumored to announce 99-cent TV show rentals from major networks, a price drop of $2 compared to the current cost of purchasing a TV episode. This is a departure from past attempts at offering a TV show...

It's unseemly when one of the nation's biggest news outlets drops a wad of cash on one political party. But when you get down to it, News Corp.'s donation to the Republican Governors Association is no worse than business as usual.