Yahoo Acquisition: News Corp Out and AOL Still Open
It has been a busy day in the race for Yahoo. Rupert Murdoch has officially stated that News Corp is going to fight Microsoft for Yahoo, and on the flip side the Time Warner Chief Executive Jeffrey Bewkes has said that Time Warner is open for a deal on AOL.
Talking to investors at the annual Bear Stearns Media Conference, Murdoch 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.â€
Bewkes however acknowledged weakness in the AOL business and told the Bear Stearns media conference Tuesday that Time Warner was open to combining AOL with another company “whatever configuration makes it the strongest and the most valuable.†This being said, AOL booked $5.2 billion in revenue in 2007 with AOL properties receiving 112 million visitors a month.
So as the race heats up, who is actually putting in formal bids for Yahoo and will there be a merger, takeover, or nothing?? Only time will tell.
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