Rupert Murdoch Speaks Up About Yahoo!

Posted Jul 11, 2008

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