Two of the original big 4 ISPs (AOL, Yahoo, MSN, and Earthlink) have now gone up for sale in as many weeks. First, last week, we told you about AOL being for sale. Now, this week, the Yahoo Board of Directors has summarily fired Yahoo CEO, Carol Bartz, and have made clear that they would accept the right offer for the sale of Yahoo.
Most people learn as early on as in high school that breaking up over the phone is uncool, but that’s what the Yahoo board did to Carol Bartz, firing her by telephone this Tuesday, the end of the Labor Day weekend. At least they didn’t do it by text message or Yahoo! Messenger.
A spokesperson for the Yahoo Board of Directors said that with Bartz gone, the company would undertake a “comprehensive strategic review” in order to “position the company for future growth.”
However, it has now become clear that “position the company for future growth” is code for “to sell ourselves to the highest bidder.”
In fact, a Yahoo insider has been quoted by the WSJ as saying that Yahoo is “open to selling itself to the right bidder.”
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As an example of how crazy the Silicon Valley stock ride still is, news of Bartz’ firing caused the value of Yahoo stock to leap 7%, which added a cool $1billion to Yahoo’s value.
But suitors should take heart, as that stock should dip again soon. Yahoo’s board has replaced Carol Bartz with one of her own handpicked recruits, Tim Morse, and analysts apparently don’t like him any better.
“Both Carol and Tim should have been fired together as they both have damaged Yahoo’s business and repairing it will be extremely difficult,” opined analyst Trip Chowdhry of Global Equities Research.
Ouch.
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