Monday morning headlines

Stocks head lower - again: After five straight weeks of losses, the Dow is getting closer to the 12,000 level. This morning it's down 20 points.

MySpace deals nears: Except it looks as if owner News Corp. will wind up with a strategic partner instead of an outright buyer, the WSJ is reporting. Bids for the Bev Hills-based social networking site apparently have been disappointing.

The deal process has been a difficult one for News Corp., which has seen Myspace's once-enviable traffic crater and its business shrivel. Despite a number of product changes designed to shift the website from a social network to a media and entertainment site, News Corp. executives' eagerness to sell the site or strike a partnership that allows it to cede operational control has grown, one of the people said. Many bids have come in significantly lower than the $100 million News Corp. was seeking, according to the people familiar with the matter. News Corp. paid $580 million for Myspace in 2005.

Couric deal to be announced: The outgoing CBS anchor will host a daytime syndicated talk show on Disney-owned ABC - and make gobs of money. She'll also contribute to ABC News. From the NYT:

Syndication has such a great financial upside because successful shows make money from both station fees and advertising revenue -- and they are generally inexpensive to produce. One of the chief negotiators in pursuit of Ms. Couric, speaking anonymously last week because of the confidential nature of the talks, said, "We all know what we're looking at with a successful syndicated show -- $100 million to $300 million a year" in revenue. As host and co-owner, Ms. Couric's own take each year could be tens of millions of dollars.

Orel Hershiser teams up on Dodger offer: The former ace will be part of the Steve Garvey-led group looking to buy the ballclub, which isn't yet for sale. Billionaire Ron Burkle is also part of the Garvey group. (Daily News)

Coda moving to L.A?.: The Business Journal reports that the Santa Monica-based electric car company has cut an incentive deal with the city. The new location is said to be in the Mid-City area. (no link)

Videogame trade show opens: The annual E3 event is expected to draw 45,000 attendees and 250 exhibitors to the Convention Center, one of L.A.'s largest trade gatherings. From All Things Digital:

Game companies are starting to recognize that in order to attract larger audiences, they need to appeal to a broader set of people. The trend is being fueled by Microsoft, Nintendo and Sony, which will be looking for ways to extend the life cycle of the major game consoles, all of which are about five years old now. The shift is also gaining acceptance as big companies are finding large audiences on digital platforms, like the Internet and Facebook.

India approves C-17 purchase: That's good news for workers at the Boeing facility in Long Beach, where the cargo aircraft is being made. The Pentagon has wanted the plane to be phased out. (AP)