Yahoo may buy $1bn social networking site

Yahoo is reported to be in talks to buy social networking site Facebook for $1bn (£540m), but it faces competition from Microsoft.

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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