By: Staff reports
New News Corp. Vehicle Being Planned
(The Hollywood Reporter)
Rupert Murdoch’s News Corp. and leading Internet search provider Yahoo! Inc.
are in talks that could see a wide-ranging strategic and investment alliance
between the two.
Speculation over such an alliance broke out over the weekend in anticipation
of a New Yorker article to be published today canvassing the possibility of
a cooperation, and even an eventual merger, between News Corp. and Yahoo!
News Corp. declined comment late Sunday on what a spokesman described as
‘speculation,’ but people close to negotiations said News Corp. president and
chief operating officer Peter Chernin has had several preliminary discussions
with Yahoo! boss Jerry Yang.
Sources say News Corp. chairman and controlling shareholder Rupert Murdoch is
not contemplating selling a stake in his company to Yahoo!, but rather talks
center on Yahoo! investing in a new News Corp. vehicle being planned to house
the conglomerate’s wide-ranging satellite television assets.
(c) Copyright 2000, Editor & Publisher