News Corp. to trade MySpace for stake in Yahoo?

Posted on Wednesday, Jun 20 2007 @ 14:40 CEST by Thomas De Maesschalck
The Times claims News Corp. may be willing to trade MySpace for a 25 percent stake in Yahoo:
Interestingly enough, The Times is itself owned by News Corp. The parent company is allegedly "interested in a deal even if it means losing some control of MySpace because it would give the media group exposure to a far larger internet-based business," the story reads. Sabbagh notes, however, that the purported talks may fall through now that Yahoo's chief executive, Terry Semel, has stepped down from his post and been replaced by company co-founder Jerry Yang.

According to the Times, News Corp. mogul Murdoch has acknowledged that MySpace's most promising potential rival, Facebook, has been gaining ground in the wake of recent growth fueled by its recently launched developer platform. Yahoo, likewise, is allegedly interested in breaking into the social networking arena, where it currently is not a major player.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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