»
Icahn Yahoo made a peace agreement with investor Carl Icahn, who for the last several months sought to oust its board and seize control of the company.
Under the terms of the agreement, eight members of Yahoo’s board will pursue re-election. Two members will be selected from a list of nine candidates handpicked by Icahn, and Icahn himself will be appointed to the board, writes MarketingVOX.
The deal was designed to defend Yahoo against any attempt at a board ousting on August 1, the date of its 2008 shareholders meeting, according to the Globe and Mail. After that day, Yahoo and Time Warner — which has also suffered Icahn’s wrath — are expected to decide whether Time Warner will incorporate AOL into the Yahoo family.
Last month Yahoo turned down a takeover bid from Microsoft. Icahn later partnered with Microsoft to propose a corporate restructuring and search buyout to Yahoo in July; the latter refused again.
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…
