Kara Swisher

Recent Posts by Kara Swisher

Under Pressure: Meet Roy Bostock

bostock

Don’t miss a terrific Wall Street Journal profile of Yahoo’s new non-executive Chairman Roy Bostock, penned by the always excellent Kevin Delaney in today’s paper. The longtime ad exec definitely has his work cut out for him, given Microsoft’s unsolicited $31-per-share bid last week.

shining

Delaney outlines the stakes for Bostock, who was installed only minutes before the Here’s-Johnny! call from Microsoft CEO Steve Ballmer, demanding to buy Yahoo for $44.6 billion or else. Bostock replaced former CEO Terry Semel, who got out of Dodge just in time. And, within minutes, Bostock apparently improved Yahoo.

Wrote Delaney:

Microsoft’s offer carried a 62% premium over Yahoo’s recent share price when it was extended. As Yahoo’s directors absorbed the offer that day, someone in the room joked that Mr. Bostock had been chairman for only half an hour and had already increased the company’s value more than 60%, says a person familiar with the matter.”

Well, that’s a plus. Kind of. OK, not so much.

(Here’s a post I did about all the Yahoo board members last week, ahead of its earnings call.)


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald