Yahoo’s deal with Google: Band-Aid

So Yahoo and Google scaled back the terms of their search advertising deal in what looks like a last-ditch, attempt — at least for Yahoo — to get it past U.S. regulators.

Some analysts called it the Band-Aid deal, while others said it smacks of desperation.

Frost & Sullivan’s digital media global director Mukul Krishna said the revised terms were “more of a Band-Aid than the extensive surgery” Yahoo needs.

Barclays Capital’s Douglas Anmuth had a similar take: “We have long viewed the search outsourcing deal as a Band-Aid-not-a-panacea for Yahoo, but compromised terms or an outright rejection of the deal would likely force Yahoo to consider other strategic measures.”

Those “other” measures are a merger of Yahoo and Time Warner’s AOL unit, or Yahoo shareholders’ ultimate dream: Microsoft coming back to woo Yahoo.

Waiting for Icahn, Day 99

icahn2.jpgOk, we understand that Carl Icahn has been a little bit busy, as today’s Yahoo news illustrates. But ever since that memorable February day when he promised to deliver his trademark brand of incisive commentary to the blogosphere, we’ve been waiting. For 99 days now we’ve checked out The Icahn Report, only to find that same taunting message: “Blog coming soon.”

He has blamed the delay on his lawyers: “Every night, I write for an hour and they tear it up.

He has promised that the blog was “a week or two away” — that deadline passed yesterday.