March 10, 2008 / 3:40 PM / 11 years ago

News Corp will not fight Microsoft for Yahoo

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.

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

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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