Yahoo! Inc. Chief Executive Officer Marissa Mayer, who has overseen an almost 150 percent stock rally fueled by her company’s stake in Alibaba Group Holding Ltd., is poised to pare that ownership -- a move that threatens to diminish the U.S. Web portal’s investor appeal.
China Media Capital, a state-backed investment fund, said it’s raising money from investors including WPP Plc, Time Warner Inc. and Softbank Corp. to invest in Chinese media and entertainment companies.
Jerry Yang’s exit from Yahoo! Inc. removes one of the last vestiges of a management team chided by investors for failing to find a buyer or negotiate a sale of stakes in Asian assets worth more than $10 billion.
Jerry Yang is exiting the Yahoo! Inc. board and its management team, the latest casualty of an overhaul that led to the ouster of Chief Executive Officer Carol Bartz and left the company in search of strategic options.
Lenovo Group Ltd., the world’s second-biggest maker of personal computers, said Yahoo! Inc. co- founder Jerry Yang will join the board of directors as an observer amid its expansion into smartphones and tablets.
Dan Loeb, the billionaire founder and principal owner of Third Point LLC, the $14 billion activist hedge fund, has made about $1 billion for himself and his investors from a two-year crusade to increase Yahoo! Inc.’s stock price. He’s been extraordinarily successful; the shares trade for about $33 these days, up from about $13.50 when Loeb started buying them in September 2011.