The Morning Fix: Stringer under pressure, MGM drowning in debt and does Geffen really want The New York Times?

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After the coffee. Before the flight out of town.

After posting its first net loss in 14 years, the pressure is on Sony CEO Howard Stringer to right the ship and The Wall Street Journal warns that time may be short. Among the challenges: reviving PlayStation and boosting interest in the companies electronic products.

Overwhelmed by its massive debt, MGM hires investment bank Moelis & Co. to help clean up the mess, which is largely the result of the 2004 purchase of the studio by an investor group that includes Sony and cable giant Comcast. The Los Angeles Times.

Hulu, the online video site owned by NBC Universal, News Corp. and now Disney, gets lots of users. But just how many is up for debate and that makes generating ad revenue a challenge,’ says The New York Times.

The broadcast networks will unveil their fall schedules to advertisers next week in anticipation of selling commercials for the new season. USA Today breaks down the needs of each network and what shows are looking hot.

D’oh! While ‘The Simpsons’ remains incredibly popular after almost 20 years, the heat on the cartoon to keep performing for Fox parent News Corp. is huge as the show generated $750 million in licensing last year and another $300 million in ad revenue. Creator Matt Groening tells USA Today he feels the pressure.

Talks or or a talk? The New York Post pours a bucket of cold water on all the reports that mogul David Geffen is hot to buy The New York Times.

Also in today’s Los Angeles Times: Fewer people are making it a Blockbuster night as the video store chain reports a first quarter revenue drop of 20%. The culprit? Strong box office! Video games, which once seemed recession proof, endured a tough April. And finally Jay Leno will be a team player right to the end. The big guest on his final show? Successor Conan O’Brien.

--Joe Flint