Tópico: [EN] Yahoo à venda
20-02-2016, 06:12 #1
[EN] Yahoo à venda
Saturday 20 February 2016
Yahoo’s board has hired three investment banking firms to evaluate potential bids for its Internet operations in the clearest sign yet that CEO Marissa Mayer may not have much more time to turn around the struggling company.
The move announced Friday comes just two weeks after Yahoo disclosed it would consider “strategic alternatives” while Mayer cuts costs through mass layoffs, office closures and a purge of unprofitable products.
Mayer believes the overhaul will boost profits and sharpen Yahoo’s focus on mobile apps and other services most likely to revive the company’s revenue growth after years of decline.
Some Yahoo shareholders frustrated with a steep drop in the company’s stock price have been pushing for a sale of the internet operations instead.
The board has now responded to that pressure by hiring investment bankers Goldman Sachs, JP Morgan and PJT Partners to set up a process for meeting with companies interested in buying all or parts of Yahoo’s business. A special committee of Yahoo’s directors will discuss the options with the bankers and the company’s legal advisers, Cravath, Swaine & Moore.
While the board mulls those alternatives, Mayer will continue to pursue a turnaround plan that includes jettisoning 15% of Yahoo’s workforce.
“We believe that pursuing these complementary paths is in the best interests of our shareholders and will maximize value,” Yahoo chair Maynard Webb said in a statement.
Mayer also is trying to spin off Yahoo’s internet operations into a newly created company while leaving behind prized stakes in Alibaba Group, a rapidly growing internet company in China, and Yahoo Japan. The proposed spinoff might not be completed until next year, if Yahoo’s internet business isn’t sold before then.
Yahoo didn’t identify any of the potential bidders that it might meet. Verizon has publicly said it might be interested in buying parts of the company after paying $4.4bn last year to snap up another fading internet company, AOL.
Analysts believe Yahoo’s other likely suitors may include AT&T, Comcast and various private equity firms that specialize in snapping up troubled companies with well-known brands such as Yahoo.
Virtually all of Yahoo’s current market value of $28bn is tied to its stakes in Alibaba and Yahoo Japan. The holdings in Alibaba alone are valued at $26bn.
Analysts still believe Yahoo’s lineup of still-popular services such as email, sports and finance could fetch several billion dollars in a sale.
Yahoo’s stock gained 62 cents, or 2%, to close Friday at $30.04. The shares have plunged by 40% since the end of 2014.
20-02-2016, 06:18 #2
The 'for sale' sign is up at Yahoo
Yahoo launches auction process as Starboard gears up for fight
Michael Flaherty and Anya George Tharakan | Reuters
Fri Feb 19, 2016
Yahoo officially launched the sale of its core business on Friday, a move seen as a positive step for frustrated investors but not enough to keep an activist hedge fund from pursuing a proxy fight against the struggling Internet company.
Yahoo shares jumped after the company announced its board has formed a committee of independent directors to explore strategic alternatives, and that it has hired investment banks and a law firm to run the process.
The launch of the auction process, a move activist hedge fund Starboard Value and other shareholders have pushed since late last year, showed the company was moving another step closer to selling its core business, which includes search, mail and news sites, rather than spin it off as previously planned.
The move follows more than three years of effort by CEO Marissa Mayer to turn around Yahoo by focusing on mobile apps and trying to boost advertising revenue.
Yahoo had acknowledged during its earnings last month that it was open to exploring options for its core business.
Despite the launch, Starboard's founder Jeffrey Smith is not backing down, and will continue his pursuit of nominating a group of directors for the Yahoo board, people familiar with the matter said.
Smith stated in a letter to the board on Jan. 6 that if the board is unwilling to accept the need for significant change, "then an election contest may very well be needed so that shareholders can replace a majority of the Board with directors who will represent their best interests."
Even though the board is showing that it's now willing to accept that need, Smith is still going to nominate a slate of directors to ensure that the sales process is handled properly, people familiar with the matter said.
The window for a shareholder to nominate a director or group of directors to the Yahoo board begins on Feb. 25 and ends on March 26, with the annual meeting expected to be held in May, according to the company's proxy statement.
"It seems pretty clear that the only reason this is happening even is because of the threat of the proxy fight," Pivotal Research analyst Brian Wieser said.
Starboard, which owns about 0.75 percent of Yahoo, declined to comment.
Yahoo's attempt to sell its core business comes after shelving previous plans to spin off its stake in ecommerce giant Alibaba.
"Separating our Alibaba stake from Yahoo's operating business is essential to maximizing value for our shareholders," Mayer said on Friday.
Yahoo's board is concerned about the risk of losing a possible proxy contest, investor Eric Jackson, of SpringOwl Asset Management, said.
Yahoo's committee of independent directors has engaged Goldman Sachs, J.P. Morgan and PJT Partners Inc as financial advisers, and Cravath, Swaine & Moore LLP as legal adviser.
Verizon is among the companies seen as a potential buyer of Yahoo's core business.
(Additional reporting by Abhirup Roy in Bengaluru and Greg Roumeliotis in New York; Editing by David Gregorio and Tom Hogue)
20-02-2016, 06:29 #3
Focusing Our Digital Content EffortsBy Martha Nelson, Global Editor-in-Chief
On our recent earnings call, Yahoo outlined out a plan to simplify our business and focus our effort on our four most successful content areas – News, Sports, Finance and Lifestyle. To that end, today we will begin phasing out the following Digital Magazines: Yahoo Food, Yahoo Health, Yahoo Parenting, Yahoo Makers, Yahoo Travel, Yahoo Autos and Yahoo Real Estate.
As we make these changes, we acknowledge the talent and dedication of an extraordinary group of journalists who brought new and newsworthy content to Yahoo. While these Digital Magazines will no longer be published, you will continue to find the topics they covered, as well as style, celebrity, entertainment, politics, tech and much more across our network.
We know you come to Yahoo because of our distinct voice and unique blend of original content, aggregation and personalization. With a renewed focus on News, Sports, Finance and Lifestyle, we will be working to make Yahoo an even more essential part of your life.
20-02-2016, 06:33 #4
A day after a 'blood bath' of layoffs, Yahoo CEO Marissa Mayer turns focus to mobileEugene Kim
Feb. 18, 2016
Just a day after laying off groups of employees from its content business, Yahoo CEO Marissa Mayer shifted her focus to mobile, underscoring the company's commitment to continue growing its mobile business going forward.
During her keynote speech at Yahoo's Mobile Developers Conference on Thursday, Mayer touted some of the growth numbers the company's mobile business saw last year, and asked developers to keep working on Yahoo's platform.
Yahoo now has over 600 million monthly users on mobile, more than half of its 1 billion total users, helping generate a little over $1 billion in mobile alone, Mayer said. The Yahoo App Publishing platform, which launched last year, is already on a $200 million revenue run rate, while Flurry, its mobile-app monetization and analytics platform, now has more than 800,000 apps working on top of it.
"From growing the Flurry community to turning apps into real businesses, it's been an incredible year. We're proud to be partners with you and excited to grow this together," Mayer said.
Mobile has been a big focus area for Mayer since she joined Yahoo in 2012. She spent hundreds of millions of dollars to acquire ad companies like Flurry and Brightroll, and retooled some of the old apps like Yahoo Weather with Flickr integration to attract more users. Mobile revenue went from $768 million in 2014 to $1.1 billion last year, representing over 20% of Yahoo's total annual revenue.
Today's event comes at a tough time for Yahoo. On Wednesday, Yahoo announced that it would close nearly half of its content verticals, representing a shift away from Mayer's earlier plan to create online "magazines" to grow its users. Some of its top editors, such as Yahoo Tech's Dan Tynan and Yahoo Beauty's Bobbi Brown, left the company as part of the change.
The layoffs are part of Yahoo's cost-cutting plan to cut 15% of its workforce, or roughly 1,600 employees, and close a number of different businesses by the end of the year. One employee who was laid off told The New York Times that the office was like a "blood bath" with all the job cuts announced on Wednesday.
Despite Yahoo's focus on mobile, some reports indicate that its user growth may not be as fast as it's expected to be. According to The Information, mobile daily active users for its three core products — Yahoo Mail, Yahoo Search, and Yahoo.com — have mostly gone down, although individual apps like Tumblr and Yahoo Sports saw big growths.
20-02-2016, 06:39 #5
Layoffs affect Yahoo's Lockport/NY operations
A view of Yahoo's Lockport facility, where layoffs were announced Wednesday. The Internet giant is cutting 15 percent of its global workforce. Company declines to share the number of local layoffs.
February 20, 2016
Yahoo's Lockport location lost some of its employees this week, as the company is cutting 15 percent of its workforce, a move which is part of the Internet giant's global restructuring efforts.
Yahoo said it aims to focus on other areas of expertise. The Sunnyvale, Calif.-based company is cutting 1,700 jobs and a number of services to help offset a steep decline in revenue this year.
Spokesperson Suzanne Philion confirmed Friday afternoon that a small percentage of Yahoo's Lockport team have been affected by the changes. Yahoo declined to give an exact number.
"In early February Yahoo shared a plan for the future, with this new plan came some very difficult decisions and changes to our business,” Philion said in a statement. “As a result of these changes, some jobs have been eliminated and those employees have been notified.”
Town of Lockport economic development coordinator Marc Smith said affected employees were notified Wednesday. Affected employees will receive severance packages.
However, the nature of the jobs being cut or which areas the company will be refocusing on are not being disclosed, Smith said.
“We don't really know the numbers, but the cuts are in line with their global restructuring efforts,” Smith said. “Yahoo is eliminating certain expertise and growing other ones.”
Lockport's center currently employs 202 people. Fifteen percent of that is roughly 30 employees.
Yahoo's restructuring will create job growth by focusing on other areas of the company. Hiring is expected throughout the end of the year in Lockport, Smith said.
In terms of employment, Yahoo has nearly reached its second quota of hirings as outlined in its payment in lieu of taxes agreement with the Town of Lockport.
The company exceeded its first PILOT commitment of bringing 75 job to the area, and is just under its second commitment of creating an additional 115 jobs. Yahoo has until April 30, 2019 to fulfill the second quota. Both agreements included sales tax abatement on equipment purchases and low-cost hydropower incentives.
Philion said that Yahoo remains committed to Lockport and the Western New York area, noting that the company has invested more than $500,000 since moving to the area in 2009. Yahoo's location at the corner of Lockport Junction Road and Enterprise Drive in the Town of Lockport's industrial park includes two data centers and a customer care call center.
“Just last year, we opened the doors on our new data center and customer care center,” Philion said, referring to the second phase of Yahoo's Lockport operations. The first phase was the first call center, which opened in 2010.
Yahoo has been very transparent about their actions with the Town of Lockport, Smith said.
“I believe the company has been very communicable and has kept us informed about what's going on,” Smith said. “Yahoo has a great partnership with Lockport and New York state.”
Yahoo also announced Friday it has set up a committee to “explore strategic alternatives,” among which include finding a possible buyer.
Yahoo has hired legal and financial advisors, including Goldman Sachs and JP Morgan, to help management determine a strategic process for potentially finding buyers for the company.
“The Strategic Review Committee and its advisors are establishing a process for outreach to and engagement with potentially interested strategic and financial parties,” Yahoo said in a release.
20-02-2016, 08:10 #6
The Death March of Yahoo’s Core Products
Feb. 17, 201
Yahoo's core internet business is seeing huge traffic declines across the board, with its mobile users remaining mostly flat, The Information's Amir Efrati reported Wednesday, citing leaked confidential data.
Here are the most important numbers for each product as of the first week of December:
Yahoo Mail: 57 million total daily active users or DAUs (down 12% from the first week of December 2014); 25 million mobile DAUs (down 3%); and 1.2 billion total minutes per day, or 21 minutes per user per day (down 32%)
Yahoo.com homepage: 53 million total DAUs (down 17%); 11 million mobile DAUs (down 1%); 470 million total minutes per day, or 9 minutes per user (down 29%)
Yahoo Search: 44 million total DAUs (down 9%); 14 million mobile DAUs (down 10%); 600 million total minutes per day, or 14 minutes per user (down 18%)
It wasn't all bad news — Tumblr, Yahoo Weather, and Yahoo Sports all had increases in daily users.
Yahoo said during its earnings call last week that it would explore a possible sale of its core internet business, saying it would engage in "qualified strategic proposals." The company is under pressure by activist investors to make significant changes, including a sale of its core internet business, but the overall drop in active users could make it hard to find a buyer.
Verizon has been the front-runner to buy Yahoo's core business, reportedly making AOL CEO Tim Armstrong act on behalf of the company for a possible acquisition. Private-equity firms like Bain and TPG could also be interested in a potential deal, but nothing has been officially announced.
As Business Insider previously reported, Yahoo started laying off its workforce this month, including the closing of five overseas offices. Just Tuesday, it announced that it would pull the plug on Yahoo Labs, its in-house research lab.
Yahoo's spokesperson sent the following statement when we reached out: "We've made significant improvements to our core experiences and are proud of the progress we've made. Today, we attract over a billion monthly active users across mobile and desktop and are focused on continuing to improve user engagement by delivering great experiences against our seven consumer product priorities - Mail, Search, Tumblr, Sports, Finance, Lifestyle and News."
You can read the full report here>>
Última edição por 5ms; 20-02-2016 às 08:14.
20-02-2016, 08:39 #7
Yahoo's confidential internal data (The Information)
By Amir Efrati | The Information
Feb. 17, 2016
The number of people visiting Yahoo’s three most important products—Yahoo Mail, the Yahoo.com home page and Yahoo Search—on a daily basis declined meaningfully over the past year, according to confidential internal data. It’s a reminder of the deep challenges any potential buyer of Yahoo would face.
The data reflect activity during the first week of December 2015 for desktop and mobile devices as well as the amount of time being spent by those users on those properties, and how those metrics compared to the same period a year earlier. One caveat about the numbers: They were put together by different product teams at the company, and each team may have used a different methodology.
Here’s the full breakdown:
- Total DAUs: 56.9 million, down 11.5%.
- Mobile DAUs: 24.4 million (43% of the total), down 2.9%.
- Total minutes per day: 1.2 billion, or 20.8 minutes per user per day, down 31.6%.
Yahoo.com Home Page
- Total DAUs: 52.6 million, down 16.5%.
- Mobile DAUs: 11.3 million (21.6% of the total), down 0.8%.
- Total minutes per day: 471.3 million, or 9 minutes per user, down 28.5%.
- Total DAUs: 43.5 million, down 8.8%.
- Mobile DAUs: 13.7 million (31.4% of the total), down 10.3%.
- Total minutes per day: 606.4 million, 14 minutes per user, down 18.1%.
- Total DAUs: 26 million, up 13%.
- Mobile DAUs: 17 million (66% of the total), up 30%.
- Total minutes per day: 306.7 million, 11.8 minutes per user, down 20.3%.
- Total DAUs: 5.1 million, up 2.9%.
- Mobile DAUs: 4.5 million (87% of the total), up 8.2%.
- Total DAUs: 11.8 million, down 8.5%.
- Mobile DAUs: 7.3 million (62% of the total), up 8.6%.
- Total minutes per day: 114 million, or 9.7 minutes per user per day, down 10.6%.
20-02-2016, 11:18 #8
Potential suitors for Yahoo
Yahoo action fails to lift threat of board battle
Mike Snider, USA TODAY February 4, 2016
Some of the companies that might give Yahoo a look:
Verizon. In December, Verizon CEO Lowell McAdam and CFO Fran Shammo both said that the telecom company would look at Yahoo should it go up for sale. Verizon's growing mobile video effort could, in theory, gain from additional Yahoo patents or technology.
Verizon "could be a willing buyer," SunTrust Robinson Humphreys Internet equity analyst Robert Peck said in a note to investors.
AT&T. Another telecom leader that is looking to grow its wireless video offerings might benefit from Yahoo's online and mobile ad systems, too.
Comcast. Yahoo's 1 billion users, its mobile apps and video ad technology would be a good fit for the cable and broadband provider, Mizuho Securities said in December. However, CEO Brian Roberts earlier this week said he foresees no upcoming acquisitions.
Alibaba. The Chinese Net retailing giant has been mentioned as a potential buyer because an acquisition would let it buy back Yahoo's 15% stake in the company, currently valued at more than $24 billion.
Softbank. Similarly, this Japanese telecommunications firm could consolidate its interest in Yahoo Japan, which it co-founded with Yahoo in 1996. Yahoo owns 35.5% of Yahoo Japan, while Softbank owns 36.4%.
Disney. An entertainment studio could make use of Yahoo's video prowess, Peck said.
Twenty-First Century Fox. Another studio that could be interested in Yahoo, according to Peck.
Google and Microsoft, as well as private equity firms, could also consider snatching up Yahoo, analysts have said since December when Yahoo announced a halt to the planned spinoff of the Alibaba stake, which at that time was valued at more than $30 billion, or almost its entire $34 billion market capitalization.
Yahoo commands about 2% of the global digital advertising and search advertising markets, trailing Google and Facebook in both, according to research firm eMarketer.
The core of Yahoo is "more than just something that would be of interest to other Internet or tech companies," said Scott Kessler, equity analyst at S&P Capital IQ, at the time. "This would appeal to international players, media companies, telecom participants and even some cable firms."
Beyond Microsoft, which competes in search against Google, international telecom firms such as Telnor could be among "a range of potential buyers around the world,"said analyst Brian Wieser of Pivotal Research.
But, he adds, "any company looking at it would have to be willing to go through a fair amount of work to reorganize and fit it in."
Yahoo's core business could be worth $4 billion to $8 billion, depending on the buyer, said Peck. "The mere separation of the core from Alibaba ... would make ANY monetization of the core a positive for shareholders."
Última edição por 5ms; 20-02-2016 às 11:21.
23-02-2016, 14:21 #9
Time Inc. Said to Be Interested in Joining Fray of Yahoo SuitorsAlex Sherman
February 23, 2016
Time Inc.’s small size isn’t stopping it from pursuing an acquisition of Yahoo! Inc.’s core business.
The $1.5 billion owner of magazines including People, Sports Illustrated, Time and Fortune, has heard a presentation from Citigroup Inc. 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.
Time Inc. would be competing with giants such as Verizon Communications Inc. and AT&T Inc. for Yahoo, putting itself squarely in an underdog role to merge with the business. Still, Time Inc. may see it as a worthwhile effort, because it could pursue a structure with Yahoo called a Reverse Morris Trust, a tax-free transaction in which one company merges with a spun-off subsidiary, the people said.
Yahoo CEO Marissa Mayer wouldn’t stay with the company under a Reverse Morris Trust, one person said. Ripp, who became CEO of Time Inc. in 2013, served as finance chief and vice chairman of America Online and has ideas for Yahoo, the person said. A deal with Time Inc. would be a way for Yahoo not to sell when the company’s valuation is near its low point, the person said. Yahoo shares have dropped 29 percent in the past 12 months.
A cash bid that’s high enough for the Yahoo board’s liking from a larger company would probably trump a Yahoo-Time Inc. combination, one of the people said.
Representatives of Time Inc., Yahoo and Citigroup declined to comment.
Time Inc. is only interested in the Yahoo core business, the people said. Because of the advantageous tax benefits to a Reverse Morris Trust, Time Inc. could compete with larger bidders, the people said. Time Inc. is probably the right size -- slightly smaller than Yahoo’s core business -- for such a structure to work, the people said.
Time Warner Inc. spun off Time Inc. in 2014. June is the two-year anniversary of that spinoff. There are probably no tax-related hurdles regarding the timing of a deal because it’s unlikely Time Inc. and Yahoo had significant deal talks before the spin, one of the people said.
New York-based Time Inc. is interested in gaining Yahoo’s digital reach of more than 1 billion users around the world, said the people. Time Inc. is trying to transform its print-focused business as more readers get their news online and print circulation and advertising revenue decline. The company said this month it’s buying Viant Technology Inc., the owner of MySpace, to get more data to help sell targeted advertising. In a recent earnings call, CEO Ripp called the deal “game-changing for us.”
“Marketers are selecting media partners that have either data-driven capabilities or premium content,” Ripp said. “We will be able to deliver both in a single platform and will stand apart from those that offer just one or the other.”
Time Inc. almost merged with Meredith Corp. in 2013. Meredith is again looking for merger partners after its deal to acquire Media General Corp. fell apart earlier this year. Ripp knocked down the Meredith idea as counter to Time Inc.’s strategy in a Bloomberg TV interview Monday.
“If you look at Meredith, Meredith has both magazine and TV assets,” Ripp said. “We don’t really want the TV assets because we would have to buy more TV assets.”
He said Time Inc.’s plan now is to continue to build its media presence.
“The opportunity for Time Inc. is to continue to grow this business. We are the player of scale in this industry.”
24-02-2016, 07:59 #10
Yes, Time Inc. Buying Yahoo Makes Some Senseby Mathew Ingram
Let’s face it, the jokes pretty much write themselves. According to one report, Time Inc.—the company that owns Fortune, among other things, and pays my salary—is considering a bid for some or all of the assets of Yahoo as the latter looks to salvage some value from its ongoing collapse. Cue the snarky comments about the Time and AOL merger, tying two rocks together to try and make them float, a couple of drunks holding each other up, etc.
It doesn’t help that Time Inc. recently acquired what remains of another faded Internet giant, namely Myspace, as part of a deal for the digital ad network Viant. But both actually make a certain amount of sense if you look at them more closely.
To be clear, I don’t know whether Time Inc. has looked at or is looking at acquiring some of Yahoo’s core businesses, but Bloomberg is usually a pretty reliable source on this sort of thing. (Time Inc. spokesman Jaison Blair said that the company’s policy is not to comment on such reports.) Obviously, having my employer buy something like Yahoo would probably affect me in a variety of ways, some of them good and some of them possibly not so good.
The more interesting question is why Time Inc. would even consider making such a bid. Isn’t Yahoo damaged goods? The company has been under-performing even its own much reduced targets for so long it’s become a running gag in media and financial circles. About the only thing keeping the stock price from cratering is the value of its Alibaba stake.
In fact, if you remove the value of Yahoo’s share of Alibaba and its investment in Yahoo Japan, some analysts believe that the current market value of the company’s core businesses is approaching zero. So why would Time Inc. or anyone else—including other reported bidders such as Verizon and AT&T—even be thinking about acquiring them?
In Time Inc.’s case, there are several key factors, and one is audience and scale. Yahoo may be seen as a dead man walking by most of the media and web industries, but its homepage and other sections (such as Finance and Sports) are still used by hundreds of millions of people. According to its 2014 annual report, Yahoo had one billion users a month worldwide. That traffic has value, especially at a time when media companies like Time are trying to generate the kind of scale advertisers want.
Another key factor, and the one that drove the Viant acquisition, is advertising and particularly ad-related targeting data (which is also why Viant wanted Myspace). Yahoo has a number of interesting things to offer in that area, including its BrightRoll video ad network and the mobile analytics engine it got by buying Flurry.
Like many other traditional media companies, Time Inc. not only needs advertising scale, but more information on its users, so that it can offer advertisers better targeting, the way that digital giants like Facebook can. This is why Verizon and AT&T are interested in Yahoo, and the video and mobile side of that equation is also why Verizon bought AOL. (One problem with Yahoo’s user base, however, is that many of them never log in.)
On the mobile side, Yahoo also has mobile mail, news and messaging apps that are used by a substantial number of people (Yahoo Mail has 225 million users, the company says, most of whom are mobile), and some Time Inc. insiders say this could also help explain the media company’s interest in the company. Getting mobile apps with such a large built-in user base could help fill a significant gap for the media company.
One of the many risks in a Yahoo acquisition is a departure of the company’s (highly paid) talent. So what exactly would Time Inc. be acquiring? That’s a fair question.
If it can combine Yahoo and MySpace, Time Inc may have just won 2005
— Mike Shields (@digitalshields) February 23, 2016
In financial terms, Time Inc. is at a bit of a disadvantage compared to Verizon and AT&T, both of which happen to have fairly substantial war chests with which to bid up the price or seal a deal. Time Inc. doesn’t have a ton of cash—$711 million, according to the most recent earnings report, after $83 million of stock repurchases and $100 million of debt repurchases—and what it does have is partly devoted to paying the interest on the $1.3 billion in debt that its former parent Time Warner saddled it with when it spun the company off in 2014.
That said, Time Inc. could have an ace in the hole, as Bloomberg notes, and that is a little-known maneuver called a Reverse Morris Trust transaction. Without going into too much detail, this is a way for a company to accomplish a tax-free spinoff of some of its assets to a smaller company. In effect, a merger of Time Inc. and Yahoo could be structured as a reverse takeover, with Yahoo being seen as the buyer of Time Inc.
If it were to happen, such a deal would almost inevitably be compared with Time Warner’s ill-fated AOL merger, a transaction that Time Warner chief executive Jeff Bewkes once called “the biggest mistake in corporate history.” That deal also involved a traditional media entity combining with a digital media company in the hope that the latter could help supercharge the former. Instead, Time Warner had to take a writedown of almost $100 billion, one of the largest corporate losses the world has ever seen.
So needless to say, Time Inc. is likely stepping gingerly around the idea of a Yahoo acquisition—though again, I don’t know for certain. And there’s no question that large acquisitions of faded Internet companies have the potential to go badly awry. But nevertheless, Time’s needs and Yahoo’s assets aren’t quite as crazy a combination as they might appear.
Última edição por 5ms; 24-02-2016 às 08:01.