At the Bear Sterns conference in Palm Springs, Florida, this morning, News Corp. Chairman Rupert Murdoch said that News Corp will not be bidding on Yahoo. While admitting that it would be fun to beat Microsoft, Murdoch affirmed his loyalty to Google, which has a Web search deal with News Corp.'s online social network, MySpace.
Yahoo has reportedly been talking to AOL in an attempt to delay what many analysts say is the inevitable takeover by Microsoft. Yahoo's board turned down Microsoft's unsolicited offer for $31 a share, but Microsoft is a patient suitor. Last week, execs from the software giant revealed their hopes to catch Google, with Yahoo remaining a strategic element of that plan.