Yahoo, News Corp. in Talks Amid Microsoft Bid

The odds of Microsoft Corp. winning its $42.1 billion bid for Yahoo Inc. appear to be improving, but Yahoo hasn't abandoned hope of finding a way to keep the software giant at bay.

Its best chance may be a deal under discussion with News Corp., in which the media conglomerate would swap its ownership of MySpace and several other online properties for a stake of 20% or more in Yahoo. Another possibility that is more remote, say other people close to the situation, is for Yahoo to strike some kind of arrangement with Time Warner Inc.'s AOL.

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