News Corporation has discussed swapping MySpace, its internet social networking unit, with Yahoo! in return for a 25 per cent stake in the enlarged group. The discussions remain tentative and could collapse after the departure of Terry Semel as Yahoo!’s chief executive and his replacement by Jerry Yang this week. Mr Yang, co-founder of Yahoo! and incoming chief executive, yesterday pledged to “dig in” to his new role, and acknowledged the difficult task he faces to arrest the decline in the internet portal’s shares.
http://business.timesonline.co.uk/tol/business/industry_sectors/media/article1957867.ece