Yahoo may be up for sale after firing of CEO
Yahoo could be sold before it appoints a new chief executive to replace recently fired Carol Bartz.
London: Internet services company Yahoo could be sold before it appoints a new chief executive to replace recently fired Carol Bartz, according to sources.
Software giant Microsoft that tried to buy Yahoo in 2008 for 45 billion dollars is likely to reprise its bid.
“Some of the same rationale, in terms of expertise in display advertising and search - still stands, so if Microsoft can get it for half the price, it will want to do so,” the Telegraph quoted a source, as saying.
According to the paper, former chief executive of AOL Jon Miller, who is now heading digital at News Corporation, is tipped as a frontrunner, and could also double as a buyer.
Miller earlier held talks with private equity firms to raise the money to acquire Yahoo.
According to the infuential technology blog ‘Techcrunch,’ Miller also held ‘early and unofficial’ talks with the Yahoo board in June, the paper said.
Bartz was recently fired by the company’s board over the phone, ending a rocky two-year run marked by stagnating growth and a bitter rift with Chinese partner Alibaba.
The board named Chief Financial Officer Tim Morse to be interim CEO while it searches for a replacement for Bartz.