Could the new and improved Yahoo CEO Jerry Yang actually manage to beat back the proxy fight being waged against him by activist investor Carl Icahn?

It increasingly looks that way, with only 12 days to go until Yahoo’s annual meeting on August 1.

But exactly which Yang will be running Yahoo, if he does win, is probably the most important question shareholders need to ask.

Would that be the seemingly energetic Yang of the past two weeks, invigorated by the battle with Icahn and his new best friend and Yahoo foe, Microsoft?

Or will it be the other Yang?

Read More »

Here is a post and also a video of me talking about the topic on Yahoo’s Tech Ticker last week with Henry Blodget and Aaron Task.
I also wrote about this issue–Yahoo (YHOO) CEO Jerry Yang’s chances in his proxy fight with activist investor Carl Icahn–in a post called, “Who Has Stolen the Old Jerry Yang? [...]

Read More »

Listening to all the birds-on-a-wire chatter about what will happen in the latest round of the never-ending Microsoft-Yahoo saga, it’s still hard to know what to think, given the ever-increasing noise around the proceedings, which will continue until Yahoo’s Aug. 1 shareholder meeting.

Yesterday, it got louder still as Yahoo Chairman Roy Bostock and CEO Jerry Yang sent out far and wide yet another stinkbomb letter, calling activist investor Carl Icahn a money-grubbing “corporate agitator.”

Well, yes–not that there’s anything wrong with that!

Read More »

Here is the entire statement from Microsoft, released this afternoon, about its version of the new proposal it made with the help of activist investor Carl Icahn, who is waging a proxy fight against Yahoo.

Read More »

If you want to get to the heart of the truly dysfunctional relationship between Yahoo and Microsoft, consider the alleged 24-hour deadline that Yahoo claimed Microsoft and its sidekick, activist investor Carl Icahn, gave the company to respond to its most recent search proposal.

I say “alleged,” because like in all things related to this takeover mess, the pair disagree on exactly what that meant.

Frankly, it’s enough to make former President Bill Clinton’s definition of what “is” is make sense.

Before we get to this disagreement, here are the terms of the new Microsoft/Icahn joint deal to take control of Yahoo’s seach business, according to numerous sources from both sides.

Read More »

When sources at Microsoft last week told BoomTown that it was going to use Carl Icahn as a kind of messenger for a new ad search proposal, I thought: Uh-oh.

And tonight, like clockwork, Yahoo rejected Microsoft’s latest bid to buy its search and ad search business, which was delivered in conjunction with the billionaire activist investor, who is waging a proxy fight against the company.

Why? Well, it’s kind of like sending Pepé Le Pew to a garden party.

Sources tell me the bid included a $20 billion ad search revenue guarantee over 10 years, as well as other small improvements on Microsoft’s previous proposal.

Still, Yahoo turned up its nose at it.

Read More »

Here is the full statement from Yahoo, released tonight, about the new proposal from Microsoft and activist investor Carl Icahn, who is waging a proxy fight against Yahoo:

Yahoo! Inc., a leading global Internet company, confirmed today that it has rejected a joint proposal from Microsoft Corporation and Carl Icahn for a complex restructuring of Yahoo! that would include the acquisition of Yahoo!’s search business by Microsoft.

Read More »

If BoomTown had any doubt that Yahoo CEO Jerry Yang was going to knuckle under to the public kneecapping given to him by the activist investor Carl “The Shark” Icahn and Microsoft CEO Steve “My Way or the Highway” Ballmer earlier this week, that was firmly disabused in a bracing conversation we had yesterday.

Read More »

Microsoft’s not the only one backing billionaire investor Carl Icahn in his quest to unseat Yahoo’s leadership and board–major Yahoo investor Gordon Crawford told Yahoo CEO Jerry Yang in a face-to-face meeting last week that he was seriously considering voting against Yahoo in the looming proxy fight.

The troubled meeting that took place last Tuesday in Los Angeles between Capital Research Global Investors’ Crawford and Yang–accompanied by three Yahoo board members–could be seen as a portent of what is to come at the company’s annual meeting on August 1.

And those signs are definitely not good for Yahoo’s current leaders.

Read More »

While a lot of focus has been put on Yahoo’s potentially ugly proxy fight with activist investor Carl Icahn–which could come to a head at its August 1 annual meeting unless both sides figure out a truce before then–more attention should probably be paid to the Internet giant’s second quarter earnings report on July 22 at 5 pm ET/2 pm PT.

It is highly unlikely Yahoo leadership will blow the quarter. Or–more to the point–they simply cannot, especially given all the unending turmoil that has engulfed the company.

Read More »

Yahoo leadership, trying to stave off a major clash at its annual meeting on Aug. 1 with activist investor Carl Icahn, is contemplating offering him two board seats to assuage him, said several sources close to the situation.

The problem? Icahn, who has put up his own new slate of directors to replace Yahoo’s entire current board as part of a proxy fight, wants at least four, sources said.

Read More »

As expected, Yahoo will announce its reorg tomorrow morning, along the same lines as BoomTown outlined in detail last week.

The only issue that arose was over the appointment of Ash Patel to head the new Global Products group. His appointment was greeted with internal dissent, but Yahoo CEO Jerry Yang was said to have insisted that Patel remain on as planned.

Last week, I outlined the sweeping internal changes at Yahoo, which will again dramatically change the structure of management.

Read More »

So exactly when will Microsoft and Yahoo really start talking again?

Much sooner than later, if investors have their way.

While the pair have not had any substantive talks as yet, despite reports they had, I would expect pressure from those shareholders (if not a dose of sanity in the face of the Google juggernaut) will bring them to the table within the next week.

While the software giant has no interest in buying all of the Internet portal, under a scenario being suggested to Microsoft by major Yahoo shareholders, a more substantial search deal could effectively give Microsoft control over Yahoo.

Read More »

Billionaire investor Carl Icahn has been unusually quiet of late about his proxy fight against Yahoo, as shares of the troubled Internet concern dip dangerously closer to under $20 a share.

And with no Microsoft-Yahoo deal pending, he also must be pretty depressed right about now.

And even though his many irked letters to the Yahoo board and CEO Jerry Yang definitely came with a cup full of crazy, BoomTown finds we miss him.

Thus, it seems like a good time to repost two videos of the ornery shareholder activist cracking wise at Caroline’s Comedy Club in New York in 2003 about his bid for Texaco/Getty Oil lawsuit and also another about U.S. Steel.

Read More »

Company in crisis? Employees morale plummeting? Shareholders in revolt? Stock slumping? Barbarians at the gate?

The perfect time to get out the Rubik’s Cube for yet another Yahoo reorganization!

BoomTown now has the outline of the likely sweeping management changes at Yahoo, to be announced next week by the troubled Internet company.

The reorg, which will drastically change the structure of management, explains a lot about the spate of recent departures by top execs at the company.

Read More »