News Corp denies rumors company wants to buy Twitter

Twitter’s shares have risen on rumours that it is becoming viewed as an acquisition target, as unconfirmed chatter about News Corp interest circulated

Rupert Murdoch’s News Corp said rumours about the company’s interest in buying microblogging site Twitter or building a stake in it were untrue.Twitter’s shares, which rose as much as 14%, pared some gains and were up 5.2% at $17.55 in late afternoon trading. The rumours had lifted the stock from a record low.Unconfirmed chatter about potential News Corp interest in Twitter circulated.This story is example of how power social networking has became as twitter is a huge social networking site and the Media mogul Rupert Murdoch might be interested in being involved in it.