Yahoo execs send out confusing memos over 'sale'

Leaked memos from executives of Internet company Yahoo! hint at the possible sale of the company, a tech site reported Saturday. All Things Digital said the first memo by Yahoo Chairman Roy Bostock and co-founders David Filo and Jerry Yang indicated they are studying "options." "Our advisers are working with us to develop ideas that we will pursue proactively. At the same time, they are fielding inquiries from multiple parties that have already expressed interest in a number of potential options. We will take the time we need to select and structure the best approach for the company, its shareholders and employees," they said, according to AllThingsD. The rest of the memo enumerated Yahoo!'s "core strengths" that they said can serve as a foundation for "the next phase of our company’s growth." It noted Yahoo! has 680 million users worldwide, nine of the #1 properties in the U.S., and remains a leader in display advertising. "Also, our Asia assets remain one of our top priorities and we continue to work well with the teams there. As you may have seen, Alibaba Group has just announced a liquidity event for its employees that reflects a continued appreciation in its value, and therefore of the value of our stake," the three said. But they said Yahoo! needs to do better to accelerate innovation, reignite inspiration, "and give our users what they want now — great content that is engaging and easy-to-use on any device and provides an experience in which they can participate and contribute." They added the process will take "months, not weeks." But interim CEO Tim Morse, in a separate memo, appeared to try to soften the blow of the possible sale. "I’m sure by now you’ve all seen the note from Jerry, David and Roy. I want you to know that while the Board works through all of our options, CEO Staff and I have been charged to move the company forward. That means we will not be sitting still over the next few months. We are actively making decisions and taking action," he said. He said the Yahoo! Board remains confident the current game plan can be executed in the short term. Morse added the Board’s focus is on its long-term outlook, and how Yahoo! can best position itself to be successful in three to five years. Still, Morse's memo also hinted at a possible sale when he said, "We need a flexible, visionary plan. That’s why the Board is actively looking at all the options available to put Yahoo! on a strong trajectory." In the meantime, he said employees have to keep Yahoo! moving ahead. He urged them to focus on three things: speed, accountability, and purpose. The memos prompted AllThingsD's Kara Swisher to summarize the Yahoo! leaders' message: "To summarize: Yahoo is for sale, sort of. But we’re taking it slow, because we always like to drag out the uncertainty here at Sunnyvale HQ. Hey, keep working hard and innovating, despite the still-matrixed system. But don’t fret that your job and career hang in the balance. And have a good weekend!" — TJD, GMA News