Tag Archives: ross levinsohn

Yahoo! and Alibaba Reach Agreement on Comprehensive Plan for Alibaba Stake

Agreement Realizes Significant Value, Immediate Liquidity and Path to Future Monetization

Yahoo! Board Increases Share Repurchase Plan by US$5 Billion

SUNNYVALE, Calif. & HANGZHOU, China — Yahoo! Inc. and Alibaba Group Holding Limited today announced they have entered into a definitive agreement for a staged and comprehensive value realization plan for Yahoo!’s stake in Alibaba.

The first step is the repurchase by Alibaba of up to one-half of Yahoo!’s stake, or approximately 20% of Alibaba’s fully-diluted shares. The purchase price will be based on a valuation of Alibaba to be established through equity financings that Alibaba intends to undertake to finance the transaction, subject to a floor valuation of approximately US$35 billion. The agreement includes substantial financial incentives for Alibaba to raise the additional equity at a valuation higher than US$35 billion. At the minimum price and assuming the initial repurchase of the full 20% stake, Yahoo! would receive from Alibaba consideration of approximately US$7.1 billion, composed of at least US$6.3 billion in cash proceeds and up to US$800 million in newly-issued Alibaba preferred stock. (more…)

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Yahoo! Names Fred Amoroso Chairman and Appoints Ross Levinsohn Interim CEO

Board Announces Settlement with Third Point LLC

SUNNYVALE, Calif. — Yahoo! Inc. today announced that the Board of Directors has named Fred Amoroso as Chairman of the Board of Directors and Ross Levinsohn as interim Chief Executive Officer, effective immediately. The Company also announced that its Board has reached an agreement with Third Point LLC (“Third Point”) to settle its pending proxy contest related to the Company’s 2012 annual meeting of shareholders.

Mr. Amoroso replaces Roy Bostock, who has stepped down from his role as Non-Executive Chairman in order to accelerate the leadership transition for the new Board. Mr. Levinsohn replaces Scott Thompson, former Chief Executive Officer, who has left the Company. (more…)

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Yahoo! Goes Beyond Gold with Global Programming Coverage of Summer Olympics

Olympians Shannon Miller, Dan O’Brien and Summer Sanders Join Editorial Team as Analysts

SUNNYVALE, Calif. — Yahoo!, the premier digital media company, today announced its Summer Games programming efforts bringing Yahoo!’s over 700 million global users closer to the events than ever before, in dozens of languages and regions, across multiple screens and digital platforms. Yahoo!’s coverage will include original video programs, breaking news, expert analysis from Gold Medal Olympians Dan O’Brien (Track and Field), Summer Sanders (Olympics), Shannon Miller (Gymnastics), and the award-winning team of writers from Yahoo! Sports, as well as social integration programs, and for the first time Yahoo! will reveal its “Memorable Moments” editorial series to build excitement for the Games. All the exclusive content will live across the Yahoo! Media Network in addition to the Yahoo! hub dedicated to coverage of the Games (https://sports.yahoo.com/olympics/) and Yahoo! Sports (https://sports.yahoo.com/), the No. 1 global sports destination online with over 104 million unique visitors a month.*

“As the No. 1 global destination online for Olympics coverage for the past three Games, Yahoo! dominates Olympics coverage with our unique storytelling; this year will be no exception and we will be bigger and better than ever before,” said Ross Levinsohn, executive vice president, head of global media. “We’re programming immersive digital experiences for a global audience and delivering a locally relevant editorial voice in each market. Our angle is to cover the stories behind the stories with our own exclusive talent, including multiple former Olympians – across screens, across the globe.” (more…)

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Yahoo! to Present Tom Hanks’ New Digital Animated Series “Electric City”

*Yahoo ! to be the First Online Broadcast Partner for Hanks’ Groundbreaking Futuristic Series from Playtone and Reliance Entertainment*

*Series Marks Yahoo!’s Entry Into Original Scripted Programming*

LAS VEGAS — International CES — Yahoo !, the premier digital media company, today announced that they have joined forces with Playtone and Reliance Entertainment to bring Tom Hanks’ multi-dimensional animated series “Electric City” to Yahoo ! in 2012. As the exclusive online broadcast home for “Electric City,” Yahoo ! will bring Hanks’ vision and storytelling to a global audience. Set in a futuristic society, “Electric City” is a new 90- minute action-packed sci-fi adventure series, and marks Yahoo!’s first foray into original scripted programming. “Electric City” was created by and stars Tom Hanks .

The introduction of “Electric City” will take center stage at a private event at CES with Tom Hanks and Ross Levinsohn , EVP Americas, Yahoo ! on January 10 . (more…)

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Yahoo! and ABC News Launch Premier News and Information Alliance

Powerful combination leverages Yahoo!’s massive reach, content breadth, and technology with ABC News’ leading brands, trusted anchors, and global newsgathering operation

Debut of GoodMorningAmerica.com on Yahoo! offers audience new ways to continue the conversation before, during and after the broadcast 24/7

Yahoo!’s and ABC News’ new exclusive slate of original online video programming kicks off today when ABC News anchor George Stephanopoulos interviews President Obama live from the White House

NEW YORK–(BUSINESS WIRE)— Yahoo!, the premier digital media company, and ABC News today announced a strategic alliance that will enhance and transform the delivery of news and information across the digital landscape. This multifaceted relationship blends Yahoo! News’ unmatched audience, as well as its depth and breadth of content, with ABC News’ global newsgathering operation and unrivaled lineup of trusted anchors and reporters. Yahoo! News and ABC News reach a combined audience of more than 100 million people in the U.S. each month on PCs, mobile devices and tablets. (more…)

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Yahoo! to Sponsor Short Film Program at the 2012 Sundance Film Festival

*Yahoo! to premiere select short films from the Festival online and launch online audience award*

SUNNYVALE, Calif.-– To further demonstrate the company’s commitment to the creative community, Yahoo!, the premier digital media company, today announced it is the Official Sponsor of the Short Film Program at the 2012 Sundance Film Festival, which runs January 19-29, 2012 in Park City, Salt Lake City, Ogden and Sundance, Utah.

As a sponsor, Yahoo! will premiere a select number of short films from the Festival on Yahoo! Movies, a leading online movie destination that reaches 27.5 million users per month. Consumers will also be able to vote for an audience award, which will be presented to the winning filmmaker at the Short Film Awards party taking place during the Festival. (more…)

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Yahoo! to Appoint Wayne Powers to Head North American Advertising Sales

SUNNYVALE, Calif.–(BUSINESS WIRE)– Yahoo! Inc. announced today that the company will appoint Wayne Powers as senior vice president, Advertising Sales for North America. Powers, who previously served as President of the Time Inc. Media Group, will report directly to incoming Executive Vice President of the Americas, Ross Levinsohn. Powers will be based in Yahoo!’s New York office. 

“Wayne is a proven leader and innovator who will bring a wealth of operating expertise and advertiser relationships to Yahoo!,” said Levinsohn. “His record of brand building with advertisers and his focus on driving revenue through creative executions will serve both Yahoo! and Madison Avenue well.”  (more…)

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