Media Digest 2/22/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

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According to Reuters, Micorosft (MSFT) will open up some of its software code to rivals.

Reuters reports that BP (BP) will try to get billions of more barrels out of Prudhoe Bay.

Reuters writes that the failure of the 3Com (COMS) deal could cut the list of Chinese investors who might buy into Motorola’s (MOT) handset busines..

Reuters reports that LG believes that it can get substantial market share from Motorola’s handset business.

Reuters reports that investors in The New York Times Company (NYT) are preparing for a proxy fight.

Reuters writes that Starbucks (SBUX) will cut its US staff by 600 people.

The Wall Street Journal reports that the credit crunch is spreading to investments linked to the debt of major companies.

The Wall Street Journal writes that Nasdaq is working on a plan to list "blank check" special acquisition companies.

The Wall Street Journal writes that China may consolidate some of its largest telecom companies including China Unicom (CHU) and China Netcom (CN).

The Wall Street Journal writes that Motorola cannot find a buyer for its handset unit, driving down the value of the company’s stock.

The New York Times writes that the government is looking at a plan to rescue 8.8 million homeowners who have lost much of the equity in their homes.

The New York Times writes that Toyota (TM) is trying to give more decision-making power to local managers around the world.

The FT writes that UBS (UBS) is looking for a new chairman.

Bloomberg reports that talks between the pilots of Northwest (NWA) and Delta (DAL) are still holding up a merger.

Douglas A. McIntyre