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Marty Peretz

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Marty Peretz Pulls New Republic Back From the Brink

A newspaper conglomerate lays off an unbearable amount of people, a weekly folds, and a morning-radio shows sputters into silence. But hark, there's also some good in our daily roundup of media news!

By Yelena Shuster

Traders Feared Terrorist Attacks

FINANCE • The Dow's fall yesterday convinced some traders that terrorists had attacked the city once again. "Our first thought was that they blew up Grand Central, or the Empire State building, or the GW," one said. [DealBreaker] • Adding insult to sell-off, Merrill Lynch slugged five big banks with a lowered rating, downgrading Goldman, Lehman, Bear Stearns, Deutsche Bank, and Credit Suisse to neutral from buy. [Bloomberg] • Carlyle Group co-founder David Rubenstein says that the market for buyouts will cool. "There will be declines. We can't continue like this forever." Speak for yourself, rich guy. [DealBook/NYT]