Murdoch may trade off MySpace for a piece of Yahoo!

New York: Media mogul Rupert Murdoch may be seeking a trade off with his MySpace social networking site for a quarter of internet portal company Yahoo!, according to emerging media reports.

MySpace, is the web''s top social networking site, which Murdoch acquired, along with other internet-related assets, for $650 million in 2005. It has an estimated 100 million users.

The deal would give News Corp access to Yahoo''s total audience of an estimated 100 million users a month and help it provide exposure in a large internet-based business, the report said.

However, the media mogul would lose overall control of MySpace, if such a deal should occur. It would also see Yahoo gaining a foothold into social networking, which it previously attempted with Facebook.