YAHOO BOARD HIRES INVESTMENT BANKS TO MULL POSSIBLE SALE

Yahoo’s board has hired three investment banking firms to evaluate potential bids for its Internet operations in the clearest sign yet that CEO Marissa Mayer may not have much more time to turn around the struggling company. The move announced Friday comes 2 1/2 weeks after Yahoo disclosed it would consider “strategic alternatives” while Mayer cuts costs through mass layoffs, office closures and a purge of unprofitable products. Mayer believes the overhaul will boost profits and sharpen Yahoo’s focus on mobile apps and other services most likely to revive the company’s revenue growth after years of decline. Some Yahoo shareholders frustrated with a steep drop in the company’s stock price have been pushing for a sale of the Internet operations instead. The board has now responded to that pressure by hiring investment bankers Goldman…

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Apple (Digital) - 1 Issue, #226

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