Report: News Corp. won't battle Microsoft for Yahoo
Company had been talking about combining MySpace, other News Corp. properties, with Yahoo
"We're not going to get into a fight with Microsoft, which has a lot more money than us," said Murdoch, chairman and CEO of News Corp., at the annual Bear Stearns Media Conference, according to Reuters.
Yahoo turned down Microsoft's unsolicited $41.4 billion takeover bid, saying it undervalued the company. To thwart Microsoft, Yahoo had been talking to News Corp. about possibly combining MySpace.com and Yahoo, according to reports.
Time Warner Inc. has also held talks to combine its AOL Internet division with Yahoo, but no progress has been reported, according to Reuters.
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