Murdoch plays good guy in Microsoft tussle

The battle over ailing web company Yahoo is not only shaping up to be one of the biggest takeovers in the short history of new media, it is also being billed as a clash of the titans. In the one corner is the world's most powerful media mogul, Rupert Murdoch and his News Corp empire; in the other, one of history's most generous philanthropists, Microsoft founder Bill Gates.

Curiously, it is Murdoch who has been cast as the good guy - a novel role for the ageing tycoon. While Microsoft's attempt to take over Yahoo for $44bn has been painted as hostile, business journalists are calling Murdoch the 'white knight' who may rescue Yahoo and its founder Jerry Yang from Gates's aggressive bid, and allow Yahoo to remain relatively independent.

Meanwhile in the midst of the current credit crunch gloom, the potential fight over Yahoo and its 500m users has got Wall Street excited. "The entertainment value for all of us would be like nothing we've seen since the days of AOL and Time Warner - and it might even exceed that," Jupiter research analyst Michael Gartenberg told the Guardian.

If Microsoft were successful, it would be a fitting swansong for Gates who officially retires this July. The Microsoft founder plans to spend even more time distributing his $56bn fortune through healthcare projects in developing countries.