And now for an update on private equity fund raising. Media deals are ripe for the taking. Providence Equity Partners, which focuses on media firms, has raised $12 billion for what some say is the largest sector-type private equity fund in the world. Clearly, it thinks that more media companies are ripe for buyouts. But you have to wonder if the industry can support it. Silver Lake Partners, which focuses on technology firms, is raising a $10 billion fund. The generalist types are leading the way: The Blackstone Group and Kohlberg Kravis Roberts & Company are said to have raised funds to the order of $20 billion. Goldman Sachs has all but closed a $19 billion fund. So clearly, pensions like what they see in terms of returns. But the deals are going to be harder to come by. One might argue that quality will have to decline.

For more:
- here's a New York Times update