Yahoo! Sends Letter to Stockholders

Jun 27, 2008

Yahoo! Inc., the global Internet company, sent a letter to all the stockholders from Chairman Roy Bostock and CEO Jerry Yang. The letter explains why Yahoo! decided against entering into an agreement with Microsoft, stating, "While Microsoft's search-only hybrid proposal may have been helpful to Microsoft, our board and management concluded it would have had a significant adverse impact on Yahoo! strategically." The letter also explains Yahoo!'s decision to enter into a non-exclusive agreement with Google, stating, "Under the agreement with Google, Yahoo! will continue to provide
algorithmic and sponsored search results, but now will also have the ability to run sponsored search ads supplied by Google alongside Yahoo!'s search results."