Web 2.0 Summit: Jerry Yang says “It’s been a pretty amazing year”
Five people called John Battelle today to ask him if Jerry Yang, the embattled chief executive of Yahoo, would show up for his appointed appearance at the Web 2.0 Summit. Well, Jerry is here. Battelle says that Yang doesn’t walk away from a fight.
Battelle, organizer of the conference, asked Yang how things were, outside of Yahoo. Yang said, “It’s been a pretty amazing year.” Why didn’t he take the Microsoft offer at $33 a share?… Continue Reading
Icahn haz seat on Yahoo board
There will be no fireworks on display at the Yahoo shareholder meeting on August 1. Or at least, they won’t be as bright. Billionaire investor Carl Icahn has reached an agreement with Yahoo to drop his pursuit of a hostile takeover of the company. In return, Icahn will get a seat of his own on Yahoo’s board of directors as well as the potential for two other seats for the board replacement members he had… Continue Reading
Icahn issues a 5-point plan. Yahoo issues a 5-syllable response: Icahn is crazy
The back and forth between Yahoo and billionaire investor Carl Icahn, who is attempting to take the company over, is now arguably more entertaining than the formal letter wars during the whole Microsoft/Yahoo debacle.
Icahn recently got FTC approval to purchase a huge amount of Yahoo stock, putting him one step closer to a hostile takeover.
This morning, Icahn sent a letter to Yahoo laying out five steps of what he plans to do with the company… Continue Reading
Icahn haz Jerry Yang’s job?
Billionaire investor Carl Icahn is back making waves for Yahoo again today. He’s now saying that if he is successful in his hostile takeover bid of Yahoo, he will remove its chief executive Jerry Yang, according to The Wall Street Journal.
Icahn believes Yang and Yahoo’s current board dropped the ball with regards to Microsoft’s proposed buyout of the company, which fizzled last month. Icahn also believes Yang and the board never had any intention of… Continue Reading
Icahn gets FTC approval to buy massive amounts of Yahoo stock
We’ve known that billionaire investor Carl Icahn had been trying to buy massive amounts of Yahoo stock to push ahead with his quest for a hostile takeover of the company. One speed bump in that plan was the Federal Trade Commission, which sometimes frowns upon massive stock purchases as being anti-competitive. That speed bump has been removed. The FTC approved Icahn’s purchase request today.
This puts Icahn squarely in the drivers seat if he wants to… Continue Reading
Terry Semel is out at Yahoo
Terry Semel, who was brought in to turnaround Yahoo after the Internet bust, has stepped down from the top job.
The former Hollywood exec looked like a master initially — when Yahoo’s revenue and profits surged after 2001. There’s no doubt Semel’s steady hand helped. Soon, however, it became clear Yahoo’s performance had more to do with the boom in Yahoo’s search business than with Semel’s guidance. As Google has left Yahoo further and further behind,… Continue Reading
Yahoo China to file aggressive suit against Qihoo nemesis
Updated
Alibaba, the large Chinese company that owns Yahoo China, is preparing to file another hard-hitting suit against competitor Qihoo and its leader, Zhou Hongyi (pictured above).
Yahoo China has already filed one suit against Qihoo, saying the search engine start-up’s software notifies users that Yahoo’s toolbar is malware and prompts deinstallation, and that it’s hurt Yahoo’s market share.
The coming suit, which VentureBeat learned about early this week, will go much further. It will attempt to take… Continue Reading