Yahoo Looks to Time Warner, News Corp.

Yahoo—back in the sights of Microsoft—is trying to keep its fate in its own hands, launching talks with potential partners, the Wall Street Journal reports. The Internet company reopened talks with Time Warner about a deal that would make AOL part of Yahoo and give Time Warner a minority interest in the new venture; Rupert Murdoch's News Corp. is also in the mix.

While Time Warner was in talks with Yahoo in April during Microsoft's abortive $47.5 billion unsolicited takeover attempt, News Corp. appears to be more an interested observer. Yahoo, meanwhile, is facing an antitrust investigation over its June deal with Google that allows Google to place advertising on some Yahoo search results in the US and Canada. (More Yahoo stories.)