The emperor: Rupert Murdoch has managed to make a fortune while bending media companies to his ideological will.
Having just rebuffed a $42.1-billion offer from Microsoft, Yahoo Inc. has another suitor: Rupert Murdoch’s News Corp. Although Murdoch is rich, he’s not Bill Gates rich, and MySpace, which is supposed to entice Yahoo into the deal, is so 2007. Murdoch detractors, therefore, should take pause, but not panic. The most popular news site on the Internet and Yahoo’s many other properties remain impartial, for now.
NEW YORK (Reuters) - Rupert Murdoch’s News Corp is in talks to combine MySpace and other Internet properties with Yahoo Inc to fend off Microsoft Corp’s $42.1 billion bid, according to several reports.
One proposal under discussion would value the MySpace online social network at around $6 billion to $10 billion and would give News Corp a more than 20 percent stake in a combined company, according to the Wall Street Journal Web site Wednesday.