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News Corp will not fight Microsoft for Yahoo
News Corp Chairman Rupert Murdoch in San Francisco, October 17, 2007. Murdoch said on Monday his News Corp would not get into a fight with Microsoft over Yahoo, confirming what most industry and Wall Street observers suspected.
Credit: Reuters/Kimberly White
NEW YORK |
NEW YORK (Reuters) - Rupert Murdoch said on Monday his News Corp would not get into a fight with Microsoft Corp over Yahoo Inc, confirming what most industry and Wall Street observers suspected.
Murdoch's company has been in talks with Yahoo over a transaction to combine News Corp's MySpace Internet social network and other Internet assets with Yahoo, a source familiar with the talks said earlier.
"We're not going to get into a fight with Microsoft, which has a lot more money than us," Murdoch told investors at the annual Bear Stearns media conference.
Microsoft has made an unsolicited $41.4 billion bid to buy Yahoo.
Time Warner Inc has also held talks to combine its AOL Internet division with Yahoo, another source said last week.
(Reporting by Kenneth Li; editing by John Wallace)
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