A merger of General Motors Corp., the largest U.S. automaker, and Chrysler LLC may cost 74,000 jobs and close half of the smaller company's plants, a major accounting firm said Thursday.
The combination of GM with Chrysler may eliminate all but seven of Chrysler's car and truck models, Grant Thornton LLP said in a report. Chrysler, the No. 3 U.S. automaker, would keep the Dodge Ram pickup, minivans and some Jeep models, the report said. GM and Chrysler are studying a merger, people familiar with the plans have said. Bloomberg News
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TiVo Inc., the pioneer of digital video recorders, will start an on-demand service that lets customers who also subscribe to Netflix Inc. instantly access a library of films and television shows.
Starting in December, TiVo customers who also have Netflix accounts will be able to watch more than 12,000 movies and TV shows at no additional cost, the companies said in a statement. Financial terms weren't disclosed. Bloomberg News
Broadcaster CBS Corp. said it will make more cost cuts throughout the company as the financial crisis spurs advertisers to pull back on spending.
CBS reported a $12.5 billion third-quarter loss Thursday after writing down the value of its radio and television stations.
Ad sales are falling at CBS's radio and TV stations as the U.S. economy shrinks.