From the chopping block

Speaking in Davos, Rupert Murdoch called for "drastic action" to quell the credit crisis. Meantime, Portfolio reports that Murdoch's Wall Street Journal will trim 50 employees from the newsroom.

The Austin American-Statesman, owned by Cox Enterprises, will offer early retirement to anyone over age 55. The paper expects to shed about 45 employees from its 906 person staff. Cox has put the newspaper up for sale and bidders include the owner of the bankrupt Minneapolis Star-Tribune.

The Denver Post and Rocky Mountain News want a divorce.