Oprah earns four times more than other TV stars

LOS ANGELES (Reuters) - When it comes to what pays on U.S. television, talk doesn't come cheap -- nor apparently does a loud mouth.

Financial magazine Forbes on Thursday published a list of the highest-paid TV celebrities, with daytime talk show host Oprah Winfrey leading the way by earning an $260 million between June 2006 and June 2007. Nobody else came close.

Second in the list was Jerry Seinfeld earning $60 million.

Winfrey was joined at the top of the list by another talk show host, David Letterman, who landed at No. 4 by raking in $40 million in the same period from his "Late Night with David Letterman."

Simon Cowell, the arrogant and harshly critical judge on top-rated talent show "American Idol" earned $45 million to land at No. 3, and Donald Trump, whose boisterous exclamation "You're Fired" from reality show "The Apprentice" became part of the pop culture lexicon, was No. 5 with $32 million.

The list shows that in the media arena, it pays to own and produce either all or part of your shows, like Oprah.

That notion becomes abundantly clear in the No. 2 slot, where Jerry Seinfeld sits with $60 million earned mostly from reruns of his co-owned 1990's sitcom "Seinfeld."

Despite the fact that prime-time TV shows win awards and critical acclaim, Forbes Senior Editor Lea Goldman noted that daytime TV and news is where stars rake in the dough.

"Daytime personalities dominate our list of TV's top earners, with most competition among morning and afternoon talk show hosts," said Goldman.

Barbara Walters, another star who owns and co-produces her daytime show "The View," landed at No. 18 with $12 million.

The remaining top 20 is as follows;

6. Jay Leno, $32 million

7. Dr. Phil McGraw, $30 million

8. "Judge" Judy Sheindlin, $30 million

9. George Lopez, $26 million

10. Kiefer Sutherland, $22 million

11. Regis Philbin, $21 million

12. Tyra Banks, $18 million

13. Rachael Ray, $16 million,

14. Katie Couric, $15 million

15. Ellen DeGeneres, $15 million

16. Ryan Seacrest, $14 million

17. Matt Lauer, $13 million

18, Barbara Walters, $12 million

19. Diane Sawyer, $12 million

20. Meredith Vieira, $10 million

Internet Ad Spending Set to Overtake Newspapers

Financial Times reports online advertising will overtake U.S. newspaper advertising in terms of size by 2011, according to a new forecast from Veronis Suhler Stevenson. Consumers are shifting to digital alternatives and migrating away from newspapers, broadcast television and other media.

Murdoch invests in the Baltics

Rupert Murdoch’s News Corp has bought two Latvian TV channels to extend its footprint into the Baltic region.

The company’s subsidiary News Corp Europe has acquired Latvian Independent Television (LNT) and a 70% stake in TV5.

Chairman of LNT Andris Ekis said: “LNT and TV5 are the beginning of the development of News Corporation's network in our region.” He added that the media giant was interested in developing a presence in Estonia, Lithuania and Belarus.