Financial Times FT.com

Microsoft and Yahoo alliance

Media groups weigh up effects of counter move

By Andrew Edgecliffe-Johnson in London and Joshua Chaffin and James Politi in New York

Published: February 1 2008 19:53 | Last updated: February 1 2008 19:53

Asked on Friday about the chance of a white knight bidder emerging for Yahoo, Kevin Johnson, head of Microsoft’s online business, made a point of remarking that the reaction from many media companies had been positive.

Investors’ wariness about the prospect of a counter-offer left Yahoo’s shares below Microsoft’s $31-per-share offer Friday. But Mr Johnson had reason to hint that the media sector would be the one from which a rival bid might emerge.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this