updated 08:20 am EDT, Wed September 7, 2011
Yahoo pondering sell-off, still interested Hulu
In the wake of Yahoo CEO Carol Bartz's sacking, a report has suggested that Yahoo is still open to a sell-off, but also remains interested in bidding on Hulu. Citing people 'familiar with the matter,' the Wall Street Journal reports that the ousting of Bartz came after a review of Yahoo's performance by independent directors. A change in leadership was considered to be the only way forward. The same review also kept the option of selling the company on the table as well.
With Yahoo's fortunes continuing to slide under Bartz's tenure, the company has become an increasingly attractive take-over target. Under Bartz, the amount of time visitors spent on Yahoo dropped 33 percent. It also retains 40 percent stake in Chinese online commerce company Alibaba, which is worth billions of dollars
Yahoo is also currently in negotiations to acquire Hulu. The Hulu acquisition is still a priority and the same sources say that Yahoo remains committed to making a deal despite the leadership change.
Yahoo stock rose over 6 percent on the news of Bartz's exit to $13.72.