Time Warner Bets on DALLAS, Delta Shares DIVE

Who will shoot J.R. this time? Time Warner’s (NYSE:TWX) TNT is bringing back the 1980s classic, Dallas, in a debut that it expects should help position the network in weeknight programming. To hype the show, a huge social networking effort is ongoing, which features an interactive game that a TNT executive says is ‘fantasy football for women’. The debut will be June 13, and early ratings will decide whether Dallas and its wealthy Ewing combatants will live again, or go back to wherever they are.

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A very blue Monday for airline stocks, as they are hit by a wave of selling off that flies in the face of rapidly declining crude prices. Delta (NYSE:DAL) reports that its revenue from its passenger segment increased less than was expected in May. Also reported is that the company is transferring $65 million to Mexican carrier Grupo Aeromexico as part of its deal to acquire more than 30 million shares of that company’s capital stock, in what is the first equity purchase in a national Mexican airline by an American carrier. Delta, United Continental (NYSE:UAL) and US Airways (NYSE:LCC) are some of the day’s biggest decliners.

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