Media Digest 6/21/2007 Reuters, WSJ, NYTimes, FT, Barron's

According to Reuters, Home Depot (HD) weighed a cut in its credit rating against its decision to buy-back $22.5 billion in shares.

Reuters writes that Yahoo! (YHOO) acquired sports site Rivals.com.

Reuters reports that Luxottica, which owns RayBan sunglasses, will buy Oakley (OO) for $2.1 billion.

Reuters also writes that Sony (SNE) says that 380 new pieces of PS3 will come to market in the current year and should boost demand for the game platform.

The Wall Street Journal reports that Boeing (BA) and AIrbus are locked in a fight for the Air Force’s $40 billion tanker purchase.

The WSJ also reports that AT&T (T) will hire 2,000 temporary employees for the launch of the iPhone.

The WSJ reports that Pfizer’s (PFE) HIV drug was set-back as the FDA asked for more information.

The WSJ reports that Altria (MO) is developing lower risk cigarettes.

The New York Times writes that Bear Stearns (BSC) has been able to hold off lenders who want to close two of its hedge funds.

FT reports that some lenders have sold sub-prime loans to get part of their money back from Bear Stearns hedge funds.

Barron’s reports that IAC/Interactive (IACI) may sell its HSN division.

Douglas A. McIntyre