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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (1919)	2/17/2008 8:14:56 PM
From: richardred	Read Replies (2) \| Respond to of 7239

Yahoo in Talks With News Corp. By MICHAEL LIEDTKE A partnership deal could repel Microsoft's bid. SAN FRANCISCO -- Yahoo Inc. is discussing a possible Internet partnership with media conglomerate News Corp., its latest effort to repel Microsoft Corp.'s takeover bid or pry a better offer from the unsolicited suitor, a person familiar with the situation said Wednesday. The specifics of the proposed joint venture haven't been worked out, the source said. Both The Wall Street Journal and a prominent blog, TechCrunch, reported that News Corp. is interested in folding its popular online social network, MySpace.com, and other Internet assets into Yahoo -- an idea that first came up last year. News Corp. owns The Wall Street Journal. News Corp. and a private equity firm reportedly would buy significant stakes in Yahoo as part of a complex deal designed to boost the Sunnyvale-based company's market value above Microsoft's initial bid of $44.6 billion, or $31 per share. A Yahoo spokesman said the company continues to "carefully and thoroughly" evaluate alternatives that will enrich its long- term shareholders. Yahoo's board reportedly is to meet again Thursday or Friday to consider the company's next move. News Corp. declined to comment. Based on Microsoft's current market value, its cash-and-stock bid for Yahoo now stands at $29.50 per share, or about $41 billion. Yahoo rejected Microsoft's offer Monday, insisting that its Internet franchise is worth more money. Microsoft has held firm so far, calling its original "full and fair" while threatening to launch a hostile takeover attempt. Although News Corp. Chairman Rupert Murdoch said last week that his New York-based company is not interested in an outright acquisition of Yahoo, he didn't rule out the possibility of a deal involving MySpace. When asked whether he might renew the previous discussions with Yahoo about a MySpace alliance, Murdoch replied: "I think that day has passed, but you never know." A News Corp. stake in Yahoo might hinge on whether the two sides can agree on how much MySpace is worth. News Corp., which also owns the Fox television and movies studios in addition to its newspaper and Internet holdings, bought MySpace for $580 million in 2005. But the social network's value has soared as its audience swelled above 100 million users, creating a potential advertising gold mine. Originally published by MICHAEL LIEDTKE Associated Press. (c) 2008 Tulsa World. Provided by ProQuest Information and Learning. All rights Reserved. Source: Tulsa World redorbit.com