Merrill media banker to leave company-source

NEW YORK, Aug 7 (Reuters) - High-profile Merrill Lynch & Co Inc (MER.N: Quote, Profile, Research, Stock Buzz) media banker Michael Costa is leaving the company, a person familiar with the matter said.

Costa, who represented the Bancroft family in its sale of Dow Jones to News Corp (NWSa.N: Quote, Profile, Research, Stock Buzz) and Tribune Co in its sale to investors led by Sam Zell, has not made a decision on his next move, the source said.

Merrill, which has seen a slew of executive departures in the past year and a half, declined to comment on the matter and Costa was not reachable.

Merrill, hit hard by the credit crisis and mortgage-market mess, posted a loss of $4.89 billion in the second quarter after writing down sour debt.

It has also unveiled plans to sell billions of dollars in assets, including a part of its lucrative brokerage business -- Financial Data Services -- to shore up its balance sheet.

(Reporting by Jui Chakravorty in New York; Editing by Ted Kerr)