TechCrunch reports that News Corp is also frantically trying to put together a competing bid for Yahoo, with the help of private equity firms*. This makes sense, given News Corp's previous interest in trading MySpace for a big Yahoo equity stake.
With only a $60 billion market cap, News Corp has the same problem that other traditional media companies do: It can't afford to do the whole deal. It could certainly provide some funding, relationships, and expertise in exchange for some equity, however. So far, TechCrunch says, there are no takers.
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