Rupert Murdoch Speaks Up About Yahoo!
Amit Chowdhry | Friday July 11, 2008 | 606 views
Rupert Murdoch, Chairman of News Corporation (NYSE:NWS.A) spoke up on his stance about Yahoo! Inc. (NASDAQ:YHOO). Murdoch affirmed that his company is very unlikely going to partake with any activity on working with Microsoft to make a deal with Yahoo! Murdoch also said that he doubts that Microsoft will end up making a deal with Yahoo!
“There won’t be a deal. There are bad personal feelings,” stated Murdoch. “In six months, Microsoft will walk away.” Murdoch and Yahoo! CEO, Jerry Yang have a similar stance. There are bad feelings between Yahoo! and Microsoft.
“I think handing over the company to Carl Icahn for the express purpose of hoping he can negotiate a complex deal with Microsoft is a big mistake for shareholders,” stated Yang when talking to the WSJ. “This is particularly true since Icahn has no plan B and therefore will have no leverage and will be dealing with Microsoft from a position of weakness.”
“And then what will shareholders be left with? A weakened, Icahn-controlled Yahoo,” added Yang.
Earlier there were countless rumors going around that Microsoft is working with News Corp. and Time Warner to work out a deal with Yahoo! This news confirms that News Corp. is not interested.
Related Links:
1. Wired
2. AllThingsD
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Categorized under Carl Icahn, Rupert Murdoch, Yahoo!
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