Printed from http://www.electronista.com

Yahoo’s Jerry Yang admits company is up for sale

updated 06:50 pm EDT, Fri September 23, 2011

Yahoo! renews search for potential buyers

Yahoo! co-founder Jerry Yang has admitted that the company is up for sale. A leaked internal memo has obtained by Business Insider reveals that Yahoo's board has engaged Allen & Company to field enquiries from 'multiple parties that have already expressed interest in a number of potential options.' Yang also advised that the company was also now deep in the process of hiring a permanent CEO to replace Carol Bartz, following her recent sacking.

Yang also indicated that the Yahoo! board is currently in the process of conducting a wide-ranging review of the company's operations who are looking at was of delivering better value for shareholders. Yang explains that Yahoo! currently has over 680 million users and retains nine of the #1 properties in the US.

The most recent move to sell Yahoo! comes just over three years since Microsoft made a bid of $44.6 billion for the company - a bid that was rejected when Yang, an Apple fan, was at the helm of the company. At the time, it was claimed that the deal was rejected because the offer "substantially undervalues" Yahoo's worth. Since, then the Yahoo!, under the stewardship of Carol Bartz, signed a search engine deal with Microsoft designed to help drive users to Yahoo.

It is not known whether Microsoft remains interested in acquiring Yahoo!.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Advertisement

Recent Reviews

Epson PowerLite Home Cinema 3500 projector

Trying to find the perfect projector for a home theater can be tricky, as there are bountiful options on the market from a large numbe ...

Thecus N2310 NAS

For every computer user, there comes a point of critical mass in data storage. When it hits, external hard drives, USB sticks and DVD ...

iRig Pads

When it comes to mobile music products, IK Multimedia has positioned itself as one of the top suppliers. Right from the early days of ...

Advertisement

toggle

Most Commented

 
toggle

Popular News