Murdoch won't battle Microsoft for Yahoo

March 11, 2008 News Corp. chairman and CEO Rupert Murdoch said Monday that he won't battle Microsoft for Yahoo and reiterated his confidence about his conglomerate's position in a possible U.S. recession even though he said its TV stations are running about 5% behind management's original targets. MySpace last week had a record day, with 40 million people in the U.S. logging on Wednesday, the News Corp. boss told the conference. Murdoch also said Monday that it would take two to three years for the recently launched Fox Business Network to pay off and shrugged off investor concerns about a possible recession or economic slowdown in the U.S.

Subscribe to the Hollywood Reporter and see the entertainment industry from its best angle: the inside looking out. Complete access to real-time news and exclusive analysis that goes behind the scenes from film to television, home video to digital media.

   Subscribe now.