Yahoo! Inc’s. negotiations to buy social networking site Facebook for about $1 billion have reportedly stalled.
Yahoo!, run by CEO Terry Semel, has been under pressure to respond to Google Inc’s. recent decision to pay $1.65 billion for video site YouTube.
But executives at Facebook — a near-direct competitor to MySpace, which was snapped up last year by News Corp. for $580 million — have been unwilling to sell their company unless Yahoo! ups its offer, the Wall Street Journal reported.
Yahoo! and Facebook declined comment Thursday.