Friday, September 9, 2011

Yahoo! up for sale? CEO Carol Bartz got fired

With the CEO of Yahoo, Carol Bartz getting fired dramatically over the phone, and being temporarily replaced by Tim Morse, the internet services company is headed for tough times ahead. Rumours are rife that the company could be sold before it appoints a new chief executive officer.

There were earlier attempts by software giant Microsoft to buy Yahoo in 2008 for a whopping 45 billion dollars and it is believed that they will come up with a fresh bid. The Telegraph quoted a source as saying, "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 paper also states that former chief executive of AOL, Jon Miller who is not heading the digital section of News Corporation is perceived to be the front runner in the deal. He is understood to have had talks with private equity firms to raise funds to acquire Yahoo.

According to popular technology blog, Techcrunch, Miller is believed to have had unofficial talks with the Yahoo board in June.

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