Media Digest 7/21/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, Roche has offered to buy-out Genentech (DNA) for $42.7 billion.

Retuers reports that one of Yahoo!’s (YHOO) activist investors has called for a compromise which would put some of Carl Icahn’s nominees on the company’s board.

tReuters reports that AMD’s (AMD) appointment of a new CEO shows that the company’s board is confident the firm can be turned around.

Reuters writes that Paulson say banks are solid but the recovery of the industry may take time.

Reuters writes that Goldman Sachs (GS) most senior financial institutions banker will leave the firm to consult for Paulson.

The Wall Street Journal writes that businesses are finding it much harder to borrow money.

The Wall Street Journal reports that Chrysler’s borrowing costs are likely to rise when it financial arm rolls over $30 billion in short term debt.

The Wall Street Journal reports that Biogen’s Tysabri, a drug for multiple sclerosis and Crohn’s disease, is shaping up to be a blockbuster.

The Wall Street Journal reports that the new Batman movie from Time Warner’s (TWX) Warner studios broke all records for an opening weekend.

The Wall Street Journal reports that AT&T (T) may report weaker then expected earnings.

The Wall Street Journal writes that Qualcomm (QCOM) and Nokia (NOK) are going to court over licensing fees.

The Wall Street Journal writes that McDonald’s may have to defend its bet to put high-end coffees into 14,000 of its US stores.

The New York Times reports that the rise of sales of small PCs may threaten manufacturer’s margins.

The New York Times writes that newspapers are focusing more on local news as they cut staff.

The FT writes that US food companies will pass along large commodities prices to their customers which may push up inflation.

The FT reports that a large US union which owns shares in Citigroup (C) is calling for a break-up of the firm.

The FT reports that regional US banks are fearful about cash calls.

The FT writes that Sony (SNE) has set a 150 million unit sales goal for the PS3.

Bloomberg writes that Paulson and Bernanke are being pressured to engineer a banking bail-out similar to the one in the US during the 1930s.

Douglas A. McIntyre