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Yahoo’s formal rejection of Microsoft’s $44.6 billion bid left the door open to give Yahoo management a chance to propose a plan to boost the stock above Microsoft’s bid, to solicit rival offers, and to attempt to raise the offering price from Microsoft, analysts say.
Analysts believe result of it all will still be a deal between the two companies, writes the Los Angeles Times.
Microsoft is not believed to have put its final offer on the table. “What Microsoft wants is someone to sit down and negotiate with them,” Ken Marlin, managing partner of Marlin & Associates, is quoted as saying. “The Yahoo board’s not quite ready to do that. But they will get there.”
Microsoft has two options at this point: to sweeten its offer enough to win over the Yahoo board, or to turn hostile, take its offer directly to shareholders and launch a proxy fight to gain control of the board and the company.
For Yahoo, the question is not whether to merge, but how high a price it can get, says Bill Burnham, a managing partner at hedge fund Inductive Capital.
Meanwhile, Yahoo is taking a step called for by analysts and laying off 1,000 of its workers today.
All sectors of the media business will suffer from the weakened economy in 2008 and 2009, with a slump in local advertising particularly hurting newspapers and local TV, according to a new projection from Goldman Sachs.
Broadcast nets will experience…
The New York Times is shuttering its International Herald Tribune site; NYTimes.com will soon host the international news normally reserved for its sister website.
The move is not about cost savings, but rather about growth, NYTimes.com general manager Vivian Schiller…
Unilever’s Vaseline set forth on an unusual research project in a small town in Alaska. Setting up a storefront, the company began giving away free bottles of lotion and asking recipients to name the person who had recommended they come…
Meet the Press, the show hosted by Tim Russert for 17 years before his death last June, is beginning to slip in ratings.
Last month, CBS’s Face the Nation pulled ahead of Meet the Press for the first time in two…
Bloggers collectively create nearly one million blog posts each day, and half of bloggers believe blogs will be a primary source of news and entertainment in the next five years, according to Technorati’s 2008 State of the Blogosphere Report, MarketingCharts writes.…
Wal-Mart and Costco reported same-store gains in September, with sales rising 2.4% and 9% respectively. Sales at Target stores open at least a year fell 3%, writes Retailer Daily.
Below, fiscal results from the discount retail giants:
Sales of food and…
