Delta and Northwest Airlines have finally agreed on a $3 billion plus merger to create the world’s biggest airline. The megacarriers face so many fundamental obstacles, from surging fuel prices to economic recession, that it’s little surprise we are now hearing about other airline mergers set to take off if and when this one gets off the ground. One potential wrench in the turbine: Northwest pilots still say they will fight the deal, so add a potential strike to the list of thunderstorms this jumbo will have to navigate. If you haven’t sated yourself with big, bold bets in the airline sector, check out Silvio Berlusconi’s latest pledge to keep Alitalia flying.

David Bowie, Blondie and Gnarls Barkley publisher Chrysalis Group said it had ended talks with would-be buyers after rejecting a 104 million pound ($205.4 million), 155 pence-per-share cash offer. Shares in the firm slumped more than 20 percent after the news. Chrysalis said in December it was in preliminary discussions with “select parties”. In February analysts had speculated the firm could be worth up to 230p a share. EMI, the music publishing unit of Warner Music, Sony/ATV — a joint venture between Sony and the singer Michael Jackson — and private equity firms working with specialist music publishers had been seen as likely bidders.

Other deals of the day:
* Roche Holding is buying privately owned British biotechnology company Piramed for $160 million to acquire its treatments against cancer and immune inflammatory disorders like arthritis and asthma.
* Africa’s biggest media firm Naspers said it had entered into a conditional agreement to sell its Greek and Cypriot pay-TV unit NetMed to Greek telecoms company Forthnet.
(photo: Amazon.com)