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News Corp Denies Rumors of Twitter Bid

(Reuters) — Rupert Murdoch’s News Corp said rumors about the company’s interest in buying microblogging site Twitter Inc or building a stake in it were untrue.

Twitter’s shares, which rose as much as 14 percent on Wednesday, pared some gains and closed up 4.1 percent at $17.38.

The stock rose from a record low after unconfirmed chatter about News Corp’s interest in Twitter circulated on Wednesday. The rumors intensified after a CNBC segment, tech website Re/code said.

The social media site was evaluated as a takeover target because of the company’s shrinking stock price, Re/code said.

Read the rest of the story at Reuters.

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