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Microsoft Corp. today announced that it has withdrawn its proposal to acquire Yahoo! Inc.
“We continue to believe that our proposed acquisition made sense for Microsoft, Yahoo! and the market as a whole. Our goal in pursuing a combination with Yahoo! was to provide greater choice and innovation in the marketplace and create real value for our respective stockholders and employees,” said Steve Ballmer, chief executive officer of Microsoft.
“Despite our best efforts, including raising our bid by roughly $5 billion, Yahoo! has not moved toward accepting our offer. After careful consideration, we believe the economics demanded by Yahoo! do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal,” said Ballmer.
“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,” Ballmer said.
“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,” said Kevin Johnson, Microsoft president for platforms and services. [Microsoft]

The sequel to the hit offroad racer is now officially titled, Motorstorm: Pacific Rift. Although this had been speculated for quite some time over the last couple of months, there was never an official announcement from the guys over at Evolution Studios. The title isn’t all that shocking considering the entire environment for the sequel is set on an island in the Pacific and will feature lush forest races.

Motorstorm: Pacific Rift is scheduled for release later this year and has finally implemented the splitscreen capabilities for up to 4-players at a time. With the original title moving over three million copies worldwide, we expect the sequel to do just as well if not significantly better than its predecessor. [PSU]