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Yahoo’s investors seem to prefer the current deal on the table from Microsoft than no deal at all, according to an informal survey conducted by Piper Jaffray senior research analyst Gene Munster.
Munster asked 20 of Yahoo’s institutional investors about their opinion of the $31-a-share offer; the report didn’t identify the investors or say how many of them favored the deal, writes the San Jose Mercury News. Yahoo chairman Roy Bostock said in an interview with Bloomberg yesterday that Yahoo’s plan to remain independent of Microsoft has gotten a positive response from investors.
Yahoo’s second-largest shareholder, Legg Mason, has come forward saying it will support Yahoo, if Microsoft reduces its current unsolicited bid. Microsoft has given Yahoo three weeks to move on its offer, at which point it will take the case directly to shareholders and attempt to elect an alternative slate of directors. Microsoft also threatened to reduce its bid.
“If Microsoft lowers the price, I’m not prepared to say that’s better than Yahoo remaining independent,” said Legg Mason’s portfolio manager, Bill Miller. Legg Mason came out earlier saying Yahoo was worth more than Microsoft’s initial offer.
A major institutional investor for Yahoo feels otherwise told CNET News on Saturday, following the release of Microsoft’s three-week deadline, that he had warned Yahoo’s independent directors that he might support an opposition slate, if the Yahoo does not move forward with a deal.
Katz Media Group has added another new client, Lincoln Financial Media, and will sell ad time on the company’s 15 stations beginning immediately.
Katz also added CBS Radio and Entercom last week, picking them off from Interep’s list.
Katz has also…
Last week, Aegis Group CEO Robert Lerwill resigned unexpectedly, sparking speculation that a takeover may be on the horizon.
Lerwill stepped down officially today (Monday), with Aegis chairman John Napier taking over his duties on an interim basis, writes MediaPost. People…
Out-of-home companies are bracing for the recession like everyone else, but they may not feel the sting as badly as other media.
Though the third quarter brought negative growth to the nation’s three largest OOH companies - Clear Channel Outdoor,…
The 82nd annual Macy’s Thanksgiving Day Parade pulled an average 12.6 rating/26 share on Thanksgiving morning, Nov. 27, according to Nielsen.
That was 8% higher than its telecast last year, Mediaweek writes. NBC estimated that a total 44.7 million viewers…
Time magazine ousted Cosmo as the top magazine for college students in this year’s Anderson Analytics fall survey.
Time also jumped past People, which was last year’s No. 2, writes Ad Age. A Time spokesperson said the magazine did not run…
Email, news gathering and paying bills continue to be the most widely used online activities among U.S. adults, but downloading TV programs, watching videos and making web phone calls posted the biggest overall growth, according to data from Mediamark Research…
