(From Cynopsis)
Talk is swirling about a deal to swap MYSPACE for a 25%-30% share in a newly integrated YAHOO, even as RUPERT MURDOCH pursues his $5 billion bid for DOW JONES.
Negotiations have been ongoing, according to Murdoch-owned THE TIMES OF LONDON and could now be in jeopardy with departure of TERRY SEMEL at the helm of YAHOO.
The perception is that Mr. Murdoch thinks MYSPACE has reached its peak in the social networking arena.
He's not the only one.
FACEBOOK has stolen much of the MYSPACE's thunder in recent weeks, which would make YAHOO shareholders leery of such a merger.
The proposed swap pegs MYSPACE's value at $12 billion based on the current evaluation of Yahoo.
YAHOO offered $1.5 billion for FACEBOOK just last year.
Then again NEWS CORP. could sweeten the deal by including other digital assets such as gaming portal IGN.COM.
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