Xerox, Microsoft in Venture

Xerox Corp. said it formed an Internet-based joint venture with Microsoft Corp. The companies, which will unveil the venture today, didn’t provide details, except to say Xerox Chief Executive Rick Thoman and Microsoft CEO Steve Ballmer will hold a news conference at 9:30 a.m. Pacific time at Xerox’s research center in Palo Alto. Analysts speculated that Xerox will join with the world’s largest software company to offer software that protects intellectual content downloaded from the Internet. Xerox formed a division in December to speed the development of Internet-based businesses and help boost its declining stock. It planned to use the division to spin off businesses and create joint ventures. Microsoft officials weren’t immediately available to comment.