It still feels like the last chapter hasn't been written, but today's decision by Microsoft not to pursue Yahoo! is more than a little stunning. The $5-billion increase in the offer was deemed too little. and Microsoft has indicated ---- publicly, at least for now --- that what Yahoo! wants is not what Yahoo! gets.
Somehow, $47.5 billion is not enough for an Internet giant.
Now, while this is seemingly outside of the media landscape, it will of course have enormous implications for the advertising and content pieces digitally in the years ahead.
It's also --- if you're to believe it's the last gasp of the dickering --- a real solidifying of three major players: Microsoft, Google and Yahoo! One is weaker than the other two, but has the opportunity to generate.