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Report: News Corp. won't battle Microsoft for Yahoo

Company head Rupert Murdoch tells investors at the annual Bear Stearns conference that he won't fight Redmond for the Internet company.

It looks like News Corp. won't be Yahoo's knight in shining armor, after all.

News Corp. does not plan on fighting Microsoft over Yahoo, Rupert Murdoch told investors at the annual Bear Stearns media conference.

"We're not going to get into a fight with Microsoft, which has a lot more money than us," Reuters reported.

Yahoo has snubbed Microsoft's unsolicited $41.4 billion takeover bid as undervalued. To thwart Microsoft, Yahoo had been talking to News Corp. about possibly combining and Yahoo, according to reports.

Yahoo also has reportedly been talking to Time Warner about combining with its AOL division, but so far, nothing of substance seems to have emerged from that, either.

Microsoft could go hostile with its bid and try to install its own candidates on Yahoo's board. Yahoo delayed the deadline for Microsoft to offer up its slate in order to buy more time. But it appears that the would-be suitors aren't interested enough.