Microsoft has made an unsolicited bid to buy Yahoo for $44.6 billion. Yahoo has been struggling to find a place in a world dominated by Google; it just spent a year analyzing its position and coming up without any particularly strong ideas to turn things around. In the past Yahoo has turned away from conversations about a Microsoft acquisition but desperation and a flagging stock price may drive this deal forward now.

Here’s Microsoft’s announcement and here’s a New York Times article with more background. The media and blogosphere will be going nuts over this story – there will be lots of speculation and gossip and rumors to read.

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