Yahoo close to new cunning plan

marissa_new4Yahoo is about to release its next glorious turnaround plan after releasing quarterly earnings next month.

It is not clear what this cunning plan actually is and if it includes its current CEO Marissa Mayer.  Her cunning plans including drastic staff cuts have so far failed to turn the company around.

The company continues to resist investor calls to explore a sale of its core Internet assets and has  rebuffed several potential buyers for its core Internet assets, including private equity firms.

Yahoo wants to gauge shareholder reaction after presenting its strategic vision during the earnings conference call, one of the people said.

Yahoo said last month it would pursue a tax-free spinoff of the core Internet business, which could take at least a year.

The company has abandoned plans to spin off its stake in Alibaba and announced it would instead spin off other assets, including its stake in Yahoo Japan, into a new company.

Yahoo might find it hard to avoid a formal sales process for long, however, as investors, including Starboard, push more aggressively for a sale.

Other investors, including Canyon Capital Advisors and Mason Capital have also been urging Yahoo to sell its Internet business.

Yahoo investors have a one-month window to nominate a slate of board members and the end of next month and Starboard has indicated in its last two letters to the board it is prepared to launch a proxy contest.