yang Yang to Quit Yahoo – Make Way for a Microsoft TakeOver ? Or Are we Just Smoking

Matt Marshall from VentureBeat has got hold of an internal Yahoo Memo, which is pointing to a Yahoo future that does not includes Yang. This makes perfect sense since Google has backed out of the Search Deal and the only way to salvage Yahoo now is to get Microsoft to acquire it, which is not possible with Yang in the driving seat. According to the Matt:

Employees at Yahoo are said to have just received an internal memo, time-stamped at 8:00 PST, to expect a “major & historical announcement” today some time after 2pm PST. Sources are saying that Yahoo chief executive [Jerry] “Yang has agreed to leave his post effective today and that Yahoo is again in late-stage talks to sell the whole company to Microsoft.” The deal is imminent and could be done by tonight, they say. The price being mentioned is $17~$19 per share.

 

Its worth noting that Yahoo till now officially denies this, according to NY Times:

Jerry Yang, Yahoo’s chairman and chief executive is scheduled to speak Wednesday at the Web 2.0 Conference in San Francisco. But he is not planning to step down or make any other significant announcement related to a deal, the people close to the companies said.