Media Digest 7/9/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, large Yahoo! (YHOO) shareholder Legg Mason said Carl Icahn’s bid would have more support if he guaranteed he would not sell the company for less than $33.

Reuters writes that the CEO of JP Morgan (JPM) said Wall St. losses where not due to accounting practices.

Reuters writes that the Fed may extend its low-cost lending to brokerages.

Reuters reports that Google’s (GOOG) YouTube ad revenue is running well below expectations.

Reuters reports that Alcoa’s (AA) results fell but beat Wall St.expectations.

The Wall Street Journal reports that the government is looking into whether Credit Suisse brokers lied about the value of auction rate securities.

The Wall Street Journal reports that Steve & Barry’s will file for Chapter 11.

The Wall Street Journal writes that the SEC found credit rating firms put profits ahead of quality controls.

The Wall Street Journal reports that a measure of national advertising revised growth down to 2% this year.

The Wall Street Journal reports that VMWare (VMW) pushed out its famous CEO.

The Wall Street Journal writes that Siemens (SI) will cut nearly 17,000 jobs.

The New York Times writes that the Fed sees the credit turmoil moving well into next year.

The New York Times reports that GM’s cash cushion does not seem adequate with its big drop in sales.

Douglas A. McIntyre