03/28/2008 02:46 am ET Updated May 25, 2011

News Corp Will Not Fight Microsoft For Yahoo

Rupert Murdoch said on Monday his News Corp (NWSa.N) would not get into a fight with Microsoft Corp over Yahoo Inc, confirming what most industry and Wall Street observers suspected.

Murdoch's company has been in talks with Yahoo over a transaction to combine News Corp's MySpace Internet social network and other Internet assets with Yahoo, a source familiar with the talks said earlier.

"We're not going to get into a fight with Microsoft, which has a lot more money than us," Murdoch told investors at the annual Bear Stearns media conference.

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