March 10, 2008 / 3:40 PM / in 10 years

News Corp will not fight Microsoft for Yahoo

<p>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. REUTERS/Kimberly White</p>

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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