Yahoo, AT&T, divorce?
p2pnet.net news:- “Yahoo shares plummeted 5.2 percent today in response to the latest breakup news in the Internet industry,” says the Mercury News, going on, “Actually, it’s just a breakup rumor – reported today in the Wall Street Journal – that high-speed Internet provider AT&T is ready to drastically scale back its relationship with the Sunnyvale online content powerhouse.”
Then, in a later story, “If AT&T gets its way, Yahoo would have to be satisfied with whatever money it could make by selling its own online products, such as digital music or matchmaking services, to subscribers of the joint service,” it says, continuing:
“San Antonio-based AT&T declined to comment on the substance of the Journal’s report, but acknowledged in a statement that its Yahoo partnership ‘is rooted in the open and ongoing dialogue we maintain’. A Yahoo statement included that same language and dismissed the Wall Street Journal report as ‘based on rumor and speculation.’ It added, however, that the companies were discussing ways to expand their partnership to include AT&T-owned Cingular Wireless.
“Investors drew their own negative conclusions. Yahoo shares fell $1.59, or 5.2 percent, to close at $29.12 on the Nasdaq Stock Market.”
Goldman Sachs analyst Anthony Noto, “estimated the AT&T deal provides Yahoo with $210 million to $290 million per year in subscription and advertising revenues,” says Reuters.
“Doubts raised by the report came as an unexpected blow to Yahoo, which has been rebounding from a series of business missteps that caused shares to lose 35 percent last year.”
Yahoo is also in trouble with the wife of a man jailed for 10 years in China.
She says she wants to sue Yahoo for its alleged role in his incarceration.
Also See:
Mercury News – Ugly AT&T rumors sink Yahoo’s shares, March 9, 2007
later story – Yahoo stock slides on possible revenue losses from AT&T alliance, March 10, 2007
Reuters – AT&T, Yahoo downplay report partnership at risk, March 9, 2007
jailed for 10 years – Jailed dissident’s wife to sue Yahoo, March 8, 2007
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