MEDIA COMPANIES INVESTING CLOSE TO HOME NOW Share buybacks, debt reduction, capital spending are recipients of free cash flow.

NewsIncJuly 15, 2002

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MEDIA COMPANIES INVESTING CLOSE TO HOME NOW Share buybacks, debt reduction, capital spending are recipients of free cash flow.

Think back a bit, and you might remember the days, not so long ago, when it was common to read about those large media acquisitions designed to expand a company's growing footprint.

Perhaps you can recall when news and information companies frequently touted their forays into the world of entertainment, whether it was cable television networks or major league sports teams.

And there were even times when you heard news of several industry giants coming together to create a new Internet company, or buying into existing Internet companies, all aimed at keeping the lucr...

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