Yahoo and News Corp. in Talks about Potential Partnership

Yahoo Inc. (Nasdaq: YHOO) is said to be talking with News Corp (NYSE: NWS) about a possible partnership that would aid the search giant in fending off a possible takeover from Microsoft (Nasdaq: MSFT).

Yahoo recently rejected Microsoft’s bid of $44.6 billion, saying the amount significantly underestimated the value of the company. That offer valued shares at $31 while Yahoo is believed to be looking for something closer to $40 per share.

Rupert Murdoch, Chairman of News Corp., announced just last week that he had no interest in acquiring Yahoo but has said he would consider implementing the social networking site MySpace in some type of deal with Yahoo.

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