Business news for Mon, 24 Dec 2007 & with words dow+expected. 2 news.

William Knapp, chief investment strategist for MainStay Investments, says investors should expect the market to sidestep a recession in 2008, but noted that even if once occurs, "consumers will barely know it happened." In a radio interview, Knapp said he expected large-cap growth to remain in favor for at least the first half of the new year, and said the Dow Jones Industrial Average will end 2008 at 15,000.

Is News Corp. becoming a publishing centric media conglomerate? That appears to be a pattern emerging following Saturday's announcement that the company would divest of eight U.S. television stations to private equity firm Oak Hill Partners for about $1.1 billion. The divestiture, which is expected to close in the third quarter of 2008, follows News Corp.'s deal to acquire print and online publisher Dow Jones and Co. for $5 billion, and moves to liquidate other TV assets, including stakes in DirecTV and Gemstar TV Guide.