Social networking website LinkedIn (NYSE:LNKD) is reportedly negotiating the purchase of Pulse, a newreading app maker.

Unnamed insider sources tell AllThingsD that the deal will be priced between $50 million and $100 million. But LinkedIn could have competition. Other reports say that Yahoo (NASDAQ:YHOO) and Microsoft (NASDAQ:MSFT) are also in talks to buy the app.

More than 10 million news articles are read on the Pulse app every day. Alphonso Labs, the app’s developer has received $10 million in financing from a variety of private equity and investment firms.

The Pulse app has about 20 million users.

Shares of LinkedIn sank almost 2% in Tuesday trading.