XM Satellite and Sirius Completes Merger

XM Satellite and Sirius Satellite Radio have completed their merger. The merged company will change its name to Sirius XM Radio Inc. Their stock will continue to be traded on the Nasdaq under the symbol SIRI. The company now has more than 18.5 million subscribers and expects to save about $400 million in costs in 2009.

Microsoft Withdraws Yahoo Bid

Microsoft Corp. has decided to withdraw its $42.3 billion bid on Saturday to buy Yahoo Inc. This came after an unsuccessful last try to negotiate a mutually acceptable sale price.

Microsoft was willing to pay as much as $47.5 billion, or $33 per share, but Yahoo’s board wanted at least $53 billion, or $37 per share. Microsoft could make a new bid later this year if Yahoo doesn’t recover after having more than two years of financial problems. Analysts feel that if things don’t change for Yahoo Inc. soon, their stock would decrease into the mid-teens and that would make it difficult for the company to turn down any future offers. Yahoo Inc. is considering an advertising partnership with Google and a merger with the Internet operations of Time Warner Inc.

Shaq Files for Divorce

It is reported that Shaquille O’Neal has filed for divorce from his wife, Shaunie. The two have been married for almost five years. Shaq accuses his wife of having an affair with her personal trainer. The trainer has been training Shaq’s wife for almost a year.
Even though there was no proof, Shaq thinks his wife and personal trainer are a little too close. He said that the weekly training sessions turned into daily ones and they spent too much time together. Shaq has had affairs outside of his marriage himself.
Shaq’s lawyers have requested that Shaunie provide a correct accounting of all money, funds, stocks, bonds, and other securities that she had access to or obtained during their marriage. The couple also have four children together.