&314/ Just Found: Microsoft Withdraws Bid for Yahoo!

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Three months of hoping, worrying, discussing, threatening, approaching, retracting, ignoring, and raising are over.

"After careful consideration, we believe the economics demanded by Yahoo do not make sense for us."
Steve Ballmer, Microsoft CEO

“We have a talented team in place and a compelling plan to grow our business through innovative new services and strategic transactions with other business partners. While Yahoo! would have accelerated our strategy, I am confident that we can continue to move forward toward our goals."
Steve Ballmer, Microsoft CEO

“We are investing heavily in new tools and Web experiences, we have dramatically improved our search performance and advertiser satisfaction, and we will continue to build our scale through organic growth and partnerships.”
Kevin Johnson, Microsoft President for Platforms and Services

"I am incredibly proud of the way our team has come together over the last three months. This process has underscored our unique and valuable strategic position. With the distraction of Microsoft's unsolicited proposal now behind us, we will be able to focus all of our energies on executing the most important transition in our history so that we can maximize our potential to the benefit of our shareholders, employees, partners and users."
Jerry Yang, Yahoo! CEO

"Yahoo! is profitable, growing, and executing well on its strategic plan to capture the large opportunities in the relatively young online advertising market."
Roy Bostock, Yahoo! Chairman

[Update 6:32 AM: Robert Scoble pushes FriendFeed hard for the "event". Scobleize!]

Scobleize! | It's TechCrunch time! | All Things Digital. | Read Sarah Lacey! | Read Vinnie Mirchandani! | Read cnet! | Read CNNMoney.com! | Read the NYT! | Read the LA Times! | Microsoft press release! | Yahoo! press release!

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