News Corp Ready to Trade MySpace for Stake in Yahoo ; In Brief

Jun 21, 06:15 AM

Current Headlines: NEWS Corporation has discussed swapping its MySpace internet social network site for a 25% stake in an enlarged Yahoo. Rupert Murdoch, chairman of News Corp, is reportedly ready to give up control of MySpace in return for a significant stake in a much larger internet business. But his plans may be thwarted by the recent management shake-up at Yahoo. The early-stage talks could collapse following the exit of Terry Semel as chief executive and his replacement by co-founder Jerry Yang. He has pledged to arrest the decline in the share price. News Corp bought MySpace for $580 million (292 million) in 2005. A 25% stake in an enlarged Yahoo could be worth more than $12 billion..

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