We already know that Third Point’s Dan Loeb minces no words when it comes to his investments. We also already know that the hedge funder and activist investor has had “words” for Yahoo’s board.
But it seems leaked Third Point letters aren’t enough for Loeb, now he’s going to put them, and all of his thoughts on how to turn Yahoo around, in blog form and put them on the internet for you to follow with ease.
The site is called Value Yahoo and others will contribute as well — namely Harry Wilson, the Chairman and CEO of MAEVA Group, LLC; Michael J. Wolf is Founder and CEO of ACTIVATE, a strategy and technology consulting firm; and Jeff Zucker is the executive producer of “Katie”. The new daily talk show, which will be hosted by Katie Couric. Some of the posts are original, and some are aggregated from other publications.
Obviously, Loeb and co. think that recent changes to Yahoo’s board are simply not enough, and that all the company’s investors need to stay vigilant.
We believe in Yahoo!, its loyal users, committed employees, dedicated partners, and the potential of the brand. Yahoo! shareholders, employees, and partners have suffered for too long with a revolving door of management teams and Directors who have been unable to seize opportunities despite the Company’s enduring role as the premier online source for news, sports, business, entertainment and email.
We believe Yahoo! has lost its way. Yahoo! should be the destination for news, entertainment, and enjoyment for users and their friends. We want to work alongside Yahoo! Directors to return to a culture of innovation and entrepreneurship, and turnaround this valuable company. We believe our plan to revitalize Yahoo! will inform, entertain and delight its users, support its valued advertising partners, and recapture its innovative spirit, resulting in increased shareholder value.
The site already has some cool posts up. We suggest that you check out the Frequently Asked Questions, Nobody Puts Dan Loeb in the Corner: Third Point Begins Proxy Bombing Yahoo in 3 … 2 … 1 (from All Things D), and Why Are We Running for Election to the Yahoo! Board?.
Loeb is asking all Yahoo investors to get involved by registering for the site and following its updates. This may be one of the few moments when anyone that doesn’t hold Yahoo stock feels a pang of jealousy.
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