Yahoo settles with Icahn

July 21, 2008

icahn.jpgIs Yahoo letting the fox in the hen house or did activist investor Carl Icahn settle after eyeing weakness in his campaign?

Whatever the case, Yahoo’s settlement with Icahn, who had planned to run a rival board slate but now gets three board seats including himself and possibly former AOL Chief Jon Miller, averts what was expected to be a bloody battle on Aug. 1.

Miller, who was pushed out of the Time Warner division, was responsible for turning the subscriber-losing AOL into an Internet company after dismantling its walled garden.

Left unanswered: What will Microsoft say later today? Did Icahn get assurances from the software giant that it would be willing to negotiate any deal with Yahoo in the new board configuration?

(Reuters )

Keep an eye on:

  • founder Dr. Arnold Kim quits medical practice to blog full time. (NYTimes)
  • Facebook to get redesign to give users more control. (Reuters)
  • Batman smashes Spider-Man’s weekend box office record. (Reuters)
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