Microsoft turns up heat on Yahoo
Even as it mulls its next move, the software maker is cranking up the heat on Yahoo ahead of its Saturday deadline.
The software maker has lined up a proxy slate of candidates to nominate to Yahoo’s board in the event it pursues a hostile bid according to the Wall Street Journal. The list has 10 nominees and three alternates the paper said citing a person familiar with the matter.
Nominees include former Nextel Partners CEO John Chapple, from Grey Global Group CEO Edward Meyer, Jaynie Studenmund, the former COO at Overture Services, which was later acquired by Yahoo, and former Adelphia Communications Corp. Chief Financial Officer Vanessa Wittman, said the Journal.
A partial list of Microsoft nominees for the Yahoo board first surfaced in March, when TechCrunch reported on sources a list that included Meyer, Chapple, and Studenmund but also listed Tom Freston, former CEO of Viacom Inc.
Meanwhile, Microsoft CEO Steve Ballmer insists he remains phlegmatic about the original $44.6 billion bid’s success. In the last couple of days he’s told journalists his company’s willing to go it alone rather than pay excessively for Yahoo.
The Journal believes one of the reasons for that might be internal skepticism at his own company. The longer the acquisition process takes the more Microsoft’s rank-and-file workers and executives weigh the consequences of what would be Microsoft’s largest deal and many oppose it.
Keep an eye on:
- E.W. Scripps Co. said quarterly profit rose about 22 percent fueled by strength at its TV networks and its Shopzilla comparison shopping Web business. (Reuters )
- Apple posted a 36 percent rise in quarterly profit, helped by strong sales of Macintosh computers and iPods. (Reuters )
- The Screen Actors Guild and major Hollywood studios agreed to extend their contract talks by a week, heightening hopes for continued labor peace. (Reuters)
- Nintendo’s fourth-quarter profit jumped 60 percent but it forecast only modest annual growth of 9 percent as sales of its DS handheld machine slow. (Reuters )