Murdoch Won`t Fight for Yahoo
Transforming Banks for a Digital Future: The Winners, The Losers, and the Strategies to Beat the Odds
News Corp chief confirms popular suspicions as Microsoft continues quest for embattled search firm.
Rupert 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.
Murdoch's company has been in talks with Yahoo over a transaction to combine News Corp's MySpace 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 has also held talks to combine its AOL Internet division with Yahoo, another source said last week.
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