“It’s kind of like iTunes but it’s better because you don’thave to pay,” Bewkes said. Bewkes has made no secret of his desire to move theindustry toward what he calls “TV Everywhere,” a catchphrasefor an approach that boils down to a requirement that viewersprove they they pay for a TV service before they can watchshows on the web. Comcast calls it “On Demand Online.” Whatever the name, getting audiences to keep paying for aTV service is paramount for cable operators like Comcast. It ishardly less essential for cable networks like TBS, since theycollect fees from cable operators that carry their programs. The fear within the industry is that by failing to protecttheir shows from the free, open world of the Web, the TVindustry will suffer the same devastation as the publishing andmusic worlds. But the TV industry remains divided on how to approach theissue.

In one case, three of the major broadcast networks — NewsCorp’s Fox (NWSA.O), General Electric Co’s (GE.N) NBC, and WaltDisney Co’s (DIS.N) ABC — have joined together to formHulu , which carries mostly broadcast TV shows but also somecontent from cable. That’s a point of irritation for some in the cable business– since audiences are suddenly able to watch a TV show overthat Web that previously they could see only if they subscribedto a pay-TV service. When asked about the industry’s challenge, both Bewkes andRoberts denied that were reacting belatedly or defensively tothe threat of the Web “This is offensive,” Bewkes said. “Make no mistake aboutit.” Comcast shares were up 5 cents at $13.84 on Nasdaq, whileTime Warner rose 19 cents to $24.74 on the New York StockExchange. (Reporting by Paul Thomasch; Editing by Steve Orlofsky andRichard Chang) Stocks Media. NEW YORK (Reuters) – The Federal Reserve left its $1.75 trillion bond purchase program unchanged as policymakers in the United States await more signs of economic improvement, Mohamed El-Erian, the chief executive of bond giant Pacific Investment Management Co., said on Wednesday. Economy”They have kept their options open pending greater clarity on the economic situation and their concerns about the path back to fiscal sustainability,” El-Erian, who oversees $756 billion at PIMCO, told Reuters.The flood of government-bond issuance has kept U.S.

Treasuries under pressure and in the process has lifted mortgage rates. That has threatened to kill a refinancing boom that has helped preserve the still-fragile health of recession-weary households and the banks that lend to them.El-Erian said: “This would put the Fed in an even more difficult position: risk even more weakening of the housing market, with negative implications for employment and growth, or expand quantitative easing and complicate even more the eventual exit process while facing higher risk of political interference.”(Reporting by Jennifer Ablan; Editing by Diane Craft) Economy. SEATTLE, June 24 /PRNewswire/ — With a new image centric design, HollandAmerica Line enhanced its Web site for a more visually engaging anduser-friendly experience.Additions include a new intuitive navigation,expanded page view, updated images and a host of prominently located virtualtours and videos. “Hollandamerica will continue to evolve in the way it uses imagery toexpress our premium brand experience and engage visitors,” said Richard D.Meadows, CTC, executive vice president, marketing, sales and guest programs.