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March 10, 2008

News Corp Gives Up The Fight For Yahoo

Duncan Riley

16 comments »

Rupert Murdoch is reported to have said that News Corp won’t fight Microsoft for Yahoo.

Talking to investors at the annual Bear Stearns Media Conference, Murchdoch said that “We’re not going to get into a fight with Microsoft, which has a lot more money than us.” Murdoch also gave support to Google as FIM’s ad provider: “We’re very happy to be in the Google camp. They sell our search advertising and pay us well for it.”

This comes in stark contrast to what we’ve heard behind the scenes - that News Corp submitted a formal big to Yahoo just a little over a week ago, and have been openly claiming to be negotiating with Microsoft to take over their Google advertising deal.

With News Corp not wanting to get in the way, Yahoo’s last chance of heading off Microsoft’s offer now rests with Time Warner. Murdoch did not rule out another type of deal with Yahoo, but given Microsoft’s increasingly hostile takeover offer, the chances of News Corp being involved in any deal with Yahoo given these comments looks slim.

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Yahoo!
News Corporation
Microsoft
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This entry was posted on Monday, March 10th, 2008 at 2:03 pm and is filed under Company & Product Profiles. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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  1. isedb.com

    March 10th, 2008 at 5:52 pm

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  1. steven

    March 10th, 2008 at 2:09 pm

    Ducan,

    Shoddy journalism last week with the JC quotes, and bad copy editing today. Thought you would at least want to start off the new week with your best foot forward.

  2. MikeT

    March 10th, 2008 at 2:10 pm

    With the shrinking credit market - did they really think they can pull this one off?
    Still being drunk after MySpace successful buyout, probably…

  3. Michael Parkatti

    March 10th, 2008 at 2:15 pm

    Thank GOD! This clears the way for NewsCorp to go after the crown jewel of American business, Wayne Enterprises. Bruce is going through a horrible proxy fight at the board level, and recent middling by The Joker should only increase the rhetoric to divest.

  4. jro

    March 10th, 2008 at 2:23 pm

    Rumors aside, it doesn’t seem that FIM really tried to “fight” for Yahoo at all. For everyone who wants to see Yahoo “saved”, nobody is interested.

    Jerry, take heed: the people who place the highest value on Yahoo right now are the people with the offer on the table.

  5. ZiZi

    March 10th, 2008 at 3:02 pm

    @jro, What you mean “wants to see yahoo saved”.. thats what Microsoft is doing, saving their sorry asses.

  6. jro

    March 10th, 2008 at 3:40 pm

    @zizi: just summarily and sarcastically paraphrasing. Yes, that’s exactly what MS is doing, but so many people are viewing that as the bad outcome.

    At least MS is willing to give them something of value for the company; no one else has any interest beyond cheerleading.

  7. Jon

    March 10th, 2008 at 3:51 pm

    Mr. Murdoch didn’t become wealthy by throwing money away… hopefully Balmer comes to his senses and realizes how silly it is to buy a dying company. Just wait another year and voila… he will be able to get it for a fraction of his initial offer. Yahoo is in some deep trouble… from a business point of view they should just stave off any offers for at least 6 months but maybe send some cash their way in order to have the “first counter-bid” option on Yahoo or just begin buying large blocks of outstanding shares until they reach 51% at which point, they can do as they wish.

    Jon
    http://woodmarvels.com - Create Unique Memories

  8. Ujwal

    March 10th, 2008 at 4:09 pm

    i use yahoo mail for junk mail. i use gmail for sites i trust for registration.

    it used to be i used hotmail.com for junk mail and yahoo for trust..

    see the trend ???/

  9. wake up

    March 10th, 2008 at 4:37 pm

    @Ujwal Yes that you will be using gmail for junk very soon ;-)

  10. HA!

    March 10th, 2008 at 5:24 pm

    Yahoo is wasting time and delaying the merger.

  11. redg

    March 10th, 2008 at 5:25 pm

    seriously how many people use yahoo for junkmail….everyone i know

  12. PSP

    March 10th, 2008 at 5:52 pm

    i actually use gmail for junk mail, i get a lot of spams in gmail after four years of usage, on the other hand, my seven years old yahoo mail plus account practically does not have spams at all. gmail also sucks at UI, and not very stable lately.

  13. kat

    March 10th, 2008 at 8:23 pm

    Yahoo mail has gotten pretty good. Gmail seems to be getting worse. Moving target. I hope Yahoo hangs in there somehow. They have some cool APIs.

  14. Guruvardhan

    March 11th, 2008 at 5:01 am

    Yeah, NewsCorp had a difficult choice to make…but i hope that they have made a thoughtfull choice……may be a collaboration with Yahoo! might work out….. :)

    http://www.80feetroad.blogspot.com

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