Yahoo

[CityFarmer]

The pressure from investors, is building up to the board, and CEO...

Investor Canyon tells Yahoo it cannot waste any more capital
15 Jan 2016 13:51
[NEW YORK] Canyon Capital Advisors LLC sent a new letter to Yahoo Inc's board on Thursday, asking it not to waste any further capital and to prioritise a sale of its core business, a portion of its assets, or the entire company.

Canyon, a Los Angeles-based investment firm and a Yahoo shareholder, wrote in a letter seen by Reuters that the internet company's board and management team have spent in excess of US$3 billion on acquisitions to which, based on the its stock price, the market appears to ascribe absolutely no, or negative, value.
...
REUTERS

Source: Business Times Breaking News

[alex]

The internet business craze for growth at no expense.. Buy first then say mentality. Internet business success is mainly built by the founder. Its evident that these founders will build another company to sell again. Afterall, its not a so easy bolt on strategy for these business compared to the traditional companies that sells physical products.

So, should it be more of development in-house instead of M&A to grow an internet business?

[CityFarmer]

Yahoo management is facing a mass termination lawsuit. Yahoo staff count is about 12,500 globally as of 2014. Firing 600 (assuming globally) of them, means about 5%. It is logical, based on normal distribution...

(not vested)

Source:
http://www.statista.com/statistics/26029...employees/

Yahoo's employee ranking targeted in mass termination lawsuit
02 Feb 2016 09:23
[SAN FRANCISCO] Yahoo! Inc. was accused in a lawsuit of manipulating employee performance evaluations to justify firing hundreds of workers in order to meet its financial targets.

Gregory Anderson, who was an editor for some of Yahoo's online news content, claims he and about 600 others at the company were unfairly fired in 2014 after managers retooled a numerical ranking system to downgrade their performance.

The mass terminations occurred without appropriate notice in violation of state and federal laws,??according to the complaint filed Monday in federal court in San Jose, California. Anderson also accused the company of gender discrimination under the US Civil Rights Act of 1964, citing internal promotions he said were limited to female candidates.

"The employees were never told their actual metric numeric ranking or how it had been determined," according to the complaint. The quarterly performance rating process "therefore permitted and encouraged discrimination based on gender and any other personal bias held by management."

California law requires that the termination of 50 or more employees within a month occur with a 60-day notice period.
...
BLOOMBERG

Source: Business Times Breaking News

[CityFarmer]

The CEO, is exploring the investors patience...

Yahoo to look at strategic alternatives, cut jobs, alongside spin-off

Yahoo Inc, under growing pressure from impatient investors, said on Tuesday it would consider "strategic alternatives" for its core Internet business and cut about 15 percent of its workforce, even as it continues with its plan to revamp the business and spin it off.

The announcement is the strongest sign yet that Chief Executive Marissa Mayer may be willing to sell the struggling Internet business of Yahoo, which was a web pioneer in the 1990s but has since been eclipsed by Alphabet's Google and Facebook in the battle for online advertisers.
...
http://www.todayonline.com/business/yaho...15-percent

[CityFarmer]

Retail investors are also losing faith on the CEO...

Yahoo strategy falls flat on Wall Street
04 Feb 2016 06:52
[SAN FRANCISCO] Yahoo shares tumbled on Wednesday in a sign that investors were skeptical about the faded Internet star's latest plan to return to glory.

The shares dropped as much as nine per cent early in the Wall Street session but pared losses to end the official Nasdaq trading day down 4.75 per cent to US$27.68.
...
AFP

Source: Business Times Breaking News

[CityFarmer]

The CEO effort to win back the shareholders' confidence...

Yahoo cuts seven web magazines as part of cost-cutting efforts
18 Feb 2016 07:34
[SAN FRANCISCO] Yahoo! Inc is shutting down seven of its digital magazines as part of Chief Executive Officer Marissa Mayer's effort to trim costs and get the Web company back to growth.

The magazines getting the ax include those focused on food, health, parenting, travel and autos, Martha Nelson, global editor-in-chief, wrote in a blog post on Wednesday. While the dedicated publications will be shuttered, the topics they covered will still be available via other Yahoo sites and services, she said. The new focus will be on four key areas, including news, sports, finance and lifestyle.
...
BLOOMBERG

Source: Business Times Breaking News

[CityFarmer]

Yahoo core biz, has been seeing as a "hot-cake"...

(not vested)

Time Inc said to be interested in joining fray of Yahoo suitors

NEW YORK — Time Inc’s small size isn’t stopping it from pursuing an acquisition of Yahoo’s core business.

The US$1.5 billion (S$2.1 billion) owner of magazines including People, Sports Illustrated, Time and Fortune, has heard a presentation from Citigroup bankers on pursuing a deal to merge with Yahoo, according to people familiar with the matter. The idea is of real interest to Time Inc Chief Executive Officer Joe Ripp, said the people, who asked not to be identified because the information is private. Citigroup hasn’t been retained, the people said.
...
http://www.todayonline.com/tech/time-inc...oo-suitors

[CityFarmer]

The activist patience has run out. It seems, the entire board is the target, instead of only the CEO...

(not vested)

Starboard to launch proxy fight to remove Yahoo's entire board
24 Mar 2016 13:40
[NEW YORK] Activist hedge fund Starboard Value LP, which is leading an investor revolt against Yahoo Inc's management team, is seeking to remove the entire board of the struggling Internet company, the Wall Street Journal reported.
...
REUTERS

Source: Business Times Breaking News

[CityFarmer]

Yahoo board and the CEO, have to act fast...

Yahoo sets April 11 deadline for preliminary bids
29 Mar 2016 09:42
[NEW YORK] Yahoo Inc has set an April 11 deadline to submit preliminary bids for its web business and Asian assets, The Wall Street Journal reported on Monday, citing sources.
...
REUTERS

Source: Business Times Breaking News

[CityFarmer]

Latest update on Yahoo asset sales bidding...

Shrinking revenues add to Yahoo’s woes as it vets suitors

NEW YORK — Yahoo said on Tuesday that its business continued to deteriorate in the first quarter, putting more pressure on the company to find a buyer quickly for its Internet operations.

Ms Marissa Mayer, Yahoo’s chief executive, said during a webcast to discuss the financial results that a review of potential suitors was proceeding at the “fastest responsible pace”, but she declined to be more specific. She also disputed news reports that the company was dragging its feet on a potential sale and refusing to share information with bidders.

“Let me be unequivocal: Our board, our management team and I have made the strategic alternative process a top priority,” said Ms Mayer. “We’ve been responsive and engaging, having personally answered hundreds of questions and requests for information.”

The first bids for Yahoo’s core Internet business were due Monday. Verizon Communications, the mobile phone carrier that owns AOL, was widely viewed as the leading contender.

Bain Capital and Vista Equity Partners have submitted a joint bid, with Mr Ross Levinsohn, Yahoo’s former interim chief executive, playing a major role, according to a person involved in the bidding process, who spoke on condition of anonymity because the bids were confidential. Other bidders included the private equity firm TPG.
...
http://www.todayonline.com/tech/shrinkin...ts-suitors