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Media News

UPDATE 1-News Corp, LinkedIn not in takeover talks - source

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NEW YORK, Dec 3 (Reuters) - Rupert Murdoch's News Corp NWSa.N is not holding takeover discussions with LinkedIn, a fast-growing social network for professionals, according to a source familiar with the matter.

The source shot down rumors from the United Kingdom that the two were discussing a deal worth about $1 billion.

News Corp and LinkedIn declined to comment.

At first glance, a deal could make sense. LinkedIn could provide the technology and services underpinnings to connect the business world readers of Dow Jones publications, after Murdoch’s $5.6 billion deal for the Wall Street Journal publisher closes this year.

“Strategically, it would be a great fit,” Goldman Sachs analyst Anthony Noto told Reuters last week. Whether it makes financial sense hinges on price, he said.

But News Corp’s Fox Interactive Media (FIM) Internet division may already be moving to serve that function, its executive said.

FIM President Peter Levinsohn told Reuters last week its MySpace plans to let its users create different profiles to attract different contacts, such as personal friends, business contacts or family members. (Reporting by Kenneth Li; Editing by Lisa Von Ahn and Dave Zimmerman)

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