Not So Great Britain

Murdoch Talking With Yahoo About Swap for MySpace | June 21, 2007

News Corp.‘s Rupert Murdoch has been discussing a deal to swap his MySpace social-networking site with Yahoo for a one-quarter stake in the Internet-portal company, even as he pursues his $5 billion offer for Dow Jones.

The talks with Yahoo are preliminary and began before chief executive Terry S. Semel resigned Monday, said a source familiar with the situation who spoke on condition of anonymity because the discussion is ongoing. It is unclear whether the talks will move forward under Semel’s successor, Jerry Yang.

Yahoo declined to comment. The talks were reported in today’s Times of London, which is owned by News Corp.

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