Rupert Murdoch, Tom Glocer push Microsoft-Yahoo merger
Agence France-Presse
First Posted 21:07:00 05/29/2008
Filed Under: Internet, Mergers - Acquisitions - Takeovers, Media
TWO MEDIA titans, Rupert Murdoch and Tom Glocer, the head of Thompson Reuters, said they support a partnership between computer giant Microsoft and Internet giant Yahoo, after a deal between the two companies fell apart in April.
"I think they need each other," Glocer said at a digital media conference organized here by The Wall Street Journal. "I think it makes a lot of sense. One way or another, I'd be surprised if there wasn't some way to make that happen."
For his part, Murdoch said he could not understand why the deal fell through, but noted that Yahoo founder Jerry Yang is "emotional about his company."
"Microsoft came up with a price, which the vast majority of the shareholders said 'give me quick,' he managed to hold them off. And Microsoft, who is not used to buying big things, they backed off," he said.
"They will try to find some other way to do things, buy search," Rupert added.
Murdoch also said he would not be surprised by a deal between Yahoo and search giant Google, "but there is a huge regulatory risk for everybody."
Microsoft says it broke off takeover talks in late April after it upped its February 1 bid of $44.6 billion by $3 billion dollars and Yahoo's board still wanted more.
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