January 25, 2010 Issue Posted January 14, 2010, 5:00PM EST

Executive Summary

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L-R: Leno, Zucker, O'Brien (L-R) Justin Lubin/NBCU Photo Bank/AP Photo; Justin Steele/The New York Times/Redux; Kevin Winter/Getty Images

Conan the Contrarian

It was a great plan while it lasted. NBC's attempt to save face after affiliates rejected five nights of The Jay Leno Show at 10 p.m., was upended when Tonight Show host Conan O'Brien refused to move his show to 12:05 to make room for Leno at 11:35. Saying he "honestly believes" the move would be the show's "destruction," Conan at press time was locked in talks with NBC, headed by Jeff Zucker, to extricate himself from his three-year contract. O'Brien hired heavyweight Hollywood litigator Patricia Glaser to win what his side contends is as much as $50 million owed him because NBC violated contract terms. The network has countered, insiders say, that changing the show's time slot doesn't violate the agreement. Meanwhile, NBC is scrambling to fill the 10 p.m. hour with dramas, Dateline, and other shows, while Fox (NWS) has said that if Conan is a free agent, it would like to talk with him. Various media outlets, citing Leno camp insiders, reported that he might bolt NBC as well.

See "Mr. Zucker, Comcast on Line Three"

—Edited by Harry Maurer & Cristina Linblad

Heineken Scores in Mexico

The beer business just keeps getting more global, as brewers ignore borders to quaff rivals. The latest deal: Heineken's Jan. 11 purchase of Mexico's second-largest beer producer. The Dutch brewer will pay $5.2 billion, all in stock—and absorb $2.1 billion in debt—for the beer unit of Femsa (FMX). That gives Heineken valuable brands (Dos Equis, Tecate, Sol) and a strong foothold in developing Latin American countries where beer consumption is growing faster than in Heineken's traditional European market. Next likely deal : Grupo Modelo, Mexico's biggest brewer, may get swallowed up by Anheuser-Busch InBev, which already owns just over 50% of the maker of No. 1 brand Corona.

—Edited by Harry Maurer & Cristina Linblad

Disaster in Haiti

The worst earthquake to hit the Caribbean region in 200 years struck Haiti on Jan. 12. Prime Minister Jean-Max Bellerive said "well over" 100,000 people may have died, though his estimate was just that. The quake destroyed much of the capital, Port-au-Prince, inflicting even greater economic pain on the hemisphere's poorest nation. The magnitude 7.0 temblor rated 9 on a 1-to-10 scale that measures the shaking of the ground. That contributed to extensive damage to Haiti's many makeshift dwellings, though larger buildings, including the presidential palace, also collapsed.

—Edited by Harry Maurer & Cristina Linblad

The Chinese Dynamo

China passed two milestones this week, offering more evidence of how handily it has weathered the financial crisis—and causing more irritation among its trading partners. Exports in December jumped 17.7% from November, their first increase in 14 months. For the year, China exported $1.2 trillion worth of goods, surpassing Germany, with an estimated $1.17 trillion, as the world's top exporter. That seemed certain to intensify pressure on Beijing to let the yuan rise rather than keeping it pegged to the sinking dollar. China also announced, on Jan. 11, that it has become the largest auto market in the world, as sales climbed 46% in 2009, to 13.6 million (including heavy commercial vehicles.) That far exceeded the traditional leader, the U.S., with 10.9 million sales. China is expected to remain atop the market for 2010.

—Edited by Harry Maurer & Cristina Linblad

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