The Morning Fix: Murdoch says thing are looking up, Star Trek looks far away and Twitter not for sale

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After the coffee, before the traffic jam.

News Corp.’s operating profit falls 47%, but Chief Executive Rupert Murdoch puts on his happy face, saying ‘it is increasingly clear the worst is over.’ Still, MySpace and the local television stations continue struggle. Murdoch said he’s also trying to figure out how to get more aggressive in charging for online content and protecting copyright. The New York Times.

For Paramount’s ‘Star Trek’ to succeed, it will have to boldly go where no Star Trek film has played boldly before...overseas. Variety details the studio’s heavy push abroad. The Los Angeles Times’ John Horn meanwhile breaks down the summer battlefield week-by-week.

While newspapers stumble and local TV stations are floundering, the Federal Communications Commission tells the Third Circuit Court it might want to tighten regulations prohibiting ownership of both in the same city. Huh? Broadcasting and Cable.

Bob Dylan’s latest ‘Together Through Life’ debuts at number one, making it back-to-back number-one releases for Mr. Zimmerman. The Hannah Montana soundtrack holds at number-two while last week’s number-one, Rick Ross’ ‘Deeper Than Rap,’ took a deeper than expected 67.5% sales drop. The Hollywood Reporter

Some executive shakeouts in the television industry including National Association of Broadcasters chief David Rehr and Hallmark Channel CEO Henry Schleiff mailing in his farewell card. Company Town tells you why.

And finally, hold on to your checkbook, Twitter, the micro-blogging site is not for sale, co-founder Biz Stone says on ABC’s gabfest ‘The View.’ Did he say it in less than 140 characters? Reuters

--Joe Flint