Media Digest 5/19/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Rueters, Microsoft (MSFT) has proposed a partnership with Yahoo! (YHOO), in place of a buy-out, which may push Carl Icahn to try to get a deal for Yahoo! to set up a joint venture with Google (GOOG).

Reuters writes that Facebook is stressing its independence among all of the M&A talk about large internet companies.

Reuters writes that News Corp (NWS) is launching a online financial ad network based around its Dow Jones properties.

Reuters writes that Asian funds worry that inflation could cause a sucker rally.

The Wall Street Journal writes the Daimler and BMW are considering setting up a joint venture to buy car components.

The Wall Street Journal reports that curbs on carbon emissions could help the nuclear power industry.

The Wall Street Journal reports that EA (ERTS) is likely to extend its offer for Take-Two (TTWO).

The Wall Street Journal reports that rising PEs of stocks may mean that are no longer bargains.

The Wall Street Journal reportes that some retailers are cutting back on their luxury items due to a fall off in demand.

The Wall Street Journal writes that a unit for France Telecom (FTE) has signed a deal with Apple (AAPL) to market the iPhone in Africa and some Middle East countries.

The New York Times writes that bank terms could kill the LBO of Bell Canada

The New York Times writes that search advertising may be killing the market for complex and expensive display ads.

The FT writes that money manager are working on getting rights to run a new $10 billion Saudi fund.

Bloomberg writes that stocks in the US and UK are recovering from their worst drop since 2001.

Bloomberg writes that auction rate securities cost Google (GOOG), UPS (UPS), and JP Morgan (JPM) shareholder $1.8 billion.

Bloomberg reports that, despite record investments, BP (BP) Exxon (XOM), and Shell can’t find enough oil.

Douglas A. McIntyre

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