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Yahoo contemplating selling core Internet business

  • The board of Yahoo is
    weighing a sale of its core Internet business when it meets this week, a source
    familiar with the matter told
    Reuters.
  •  
  • The board’s meeting
    comes amid a broader debate about the future of the company and that of

    • The board of Yahoo is
      weighing a sale of its core Internet business when it meets this week, a source
      familiar with the matter told
      Reuters.
    •  
    • The board’s meeting
      comes amid a broader debate about the future of the company and that of
      high-profile Chief Executive Marissa Mayer.
    •  
    • The Wall Street Journal first reported the possible sale of the Internet
      business.
    •  
    • People familiar with
      the matter told the newspaper the board was expected to also discuss during
      meetings whether to proceed with a plan to spin off more than $30 billion in
      shares of Alibaba Holding Group Ltd.
    •  
    • The company could
      also pursue both options, the paper said.
    •  
    • Yahoo’s core
      business, which includes popular services like Yahoo Mail and its news and
      sports sites, could attract private equity firms, media and telecom companies
      or firms like Softbank Group Corp, analysts have said in the past.
    •  
    • The news comes as
      Mayer faces growing pressure over the company’s performance. Mayer came to
      Yahoo after a long stint at Google. Her arrival kicked off heightened
      expectations of a quick turnaround at Yahoo, which had struggled to grow its
      advertising business to compete with market leaders Google and Facebook.
    •  
    • Hopes of a comeback
      crumbled as Yahoo’s plan to push mobile, video, native and social media ads – a
      strategy Mayer introduced in 2014 under the acronym Mavens – failed to increase
      revenues as desktop search ads continued to decline.
    •  
    • During Mayer’s
      13-year tenure at Google, she led the Google Earth, Gmail and Google News teams
      and is credited with helping create the company’s celebrated search page.

     

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