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NEW YORK Time Warner’s AOL unit is inching closer to a merger deal with Yahoo!, while Microsoft has approached News Corp. about a potential joint takeover bid for Yahoo!, The Wall Street Journal reported late Wednesday, citing people familiar with the matter.
The Journal is now part of Rupert Murdoch’s News Corp. Shortly before midnight ET, the paper reported on its Web site that Microsoft is recrafting its Yahoo! strategy. Microsoft and News Corp. have yet to agree on possibly bidding together.
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