Yahoo is reported to be in talks to buy social
networking site Facebook for $1bn (£540m), but it faces competition
from Microsoft.
The Wall Street Journal reports that discussions between the two
companies are underway, but adds that Facebook has also had
separate discussions with Microsoft and Viacom over a possible
takeover.
Facebook recently signed a major advertising deal with
Microsoft. Facebook allows users to publish personal profiles on
its website and communicate with like-minded individuals.
The company has over nine million registered users, mainly at
schools and colleges in the US.
MySpace, a big rival to Facebook, was recently acquired by
Rupert Murdoch's News Corporation for $580m.
Neither Yahoo nor Facebook have commented on the possible
takeover.
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