Yahoo gives CEO Bartz the boot; Hulu bid up in the air?

Yahoo (Nasdaq: YHOO) CEO Carol Bartz is out, booted by the company's board because her turnaround strategy--one she said in April was on track--wasn't working fast enough.

Despite the company's more than $1 billion profit last year, investors have been critical of her leadership and celebrated the move in after hours trading yesterday, pushing the company's share price up 6 percent, a significant move considering share prices had been flat during her reign.

CFO Tim Morse has been named interim CEO while the board searches for a new chief executive.

Under Bartz, Yahoo increasingly has been a proponent of online video, in June issuing a report that showed viewers were changing their habits, watching more video online during what traditionally had been prime time for television.

She also has been a driving force behind the company's bid for Hulu, and was identified as one of four bidders, Amazon (Nasdaq: AMZN), Dish Network (Nasdaq: DISH) and Google (Nasdaq: GOOG), still in contention for the site, with  big in the range of $1.5 billion to $2 billion.

According to the Wall Street Journal, sources said the Hulu bid remains in play. In a Tuesday statement, Yahoo said it is undergoing a "comprehensive strategic review" but didn't offer details.

For more:
- see this WSJ article

Related articles:
Report: Google close to beating Amazon, Dish and Yahoo for Hulu
Yahoo! has content aspirations
Yahoo Connected TV aims to grow installed base
Yahoo CEO Bartz says TV is the competition

Suggested Articles

Alan Wolk, lead analyst and co-founder at TV[R]EV, takes on YouTube's reported service bundling plans and Roku's strong fourth quarter.

Netflix quietly revealed last week that it has begun streaming AV1 encoded content through its app for Android mobile devices. It’s a big deal.

Roku rounded out 2019 nearly 10 million active accounts ahead of where it ended 2018 as the company continues its momentum in the streaming space.