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.
Murdochs company has been in talks with Yahoo over a transaction to combine News Corps MySpace Internet social network and other Internet assets with Yahoo, a source familiar with the talks said earlier.
Were 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.
** Check out our: Yahoo Phone Card
** Our Top Selling Calling Card: African Dream Phone Card