Thursday, September 21, 2006

Yahoo 'to buy Facebook for $1bn

The BBC reports:

Internet search firm Yahoo is reported to be in talks to buy social networking website Facebook for $1bn (£527m).

US-based Facebook, popular with students, has also held separate discussions with Microsoft and Viacom, according to the Wall Street Journal.

Facebook, which allows users to put up profiles of themselves, recently signed an advertising deal with Microsoft.

A similar such website, MySpace, was bought by Rupert Murdoch's News Corporation for $580m last year.