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Yahoo! Reportedly Sizing Up AOL as its Knight in Shining Armor

Google, which owns 5% of AOL, is said to favor a Yahoo! -Time Warner deal
By Maureen O'Gara
Article Rating:
March 6, 2008 02:30 PM EST
Reads:
 4,539
In its desperate backstroke away from Microsoft’s clutches - and in case Microsoft starts its threatened proxy fight for control of the company - Yahoo! has extended its deadline for board nominations to 10 days after it announces a date for its annual shareholders meeting. Whenever that might be. The original date was March 14, just around the corner.

The move buys Yahoo! a little more time to find a white knight to rescue it from Microsoft’s rejected $31-a-share offer “without the distraction of a proxy contest,” it said. According to the rules, it looks like Yahoo has to have that meeting by mid-July.

The Wall Street Journal says Yahoo is currently trying to cut a deal with Time Warner, the once burned AOL stable. Reportedly Yahoo! could acquire AOL with Time Warner holding a minority share in the combined company, a deal Google, which owns 5% of AOL, is said to favor.

The Journal said Time Warner is working on a proposal that Yahoo! can take to its board.

Published March 6, 2008 – Reads 4,539
Copyright © 2008 SYS-CON Media, Inc. — All Rights Reserved.
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More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025.

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