Chapter 1012： Sit back and watch Yahoo's life and death

For old guys like Murdoch and Redstone, never spend a penny indiscriminately!

This is the value concept they have cultivated in that era since childhood.

Besides, although Yahoo has gone through the bubble crisis and its market value has shrunk significantly, with the rise of Yahoo Japan, Yahoo's total market value has still climbed, and it is still a giant-level Internet company.

The current share price is $35 and the market cap is as high as $50 billion.

News Corp. wants to eat Yahoo's interactive entertainment business, at least $10 billion!

Yahoo Messenger is the fourth-ranked social chat software in the world today, and its strength is not small.

Will Murdoch really take Yahoo at all costs?

This kind of old guy is definitely not as good as young people in the courage to spend money.

As long as Google sends a large order to Myspace, Murdoch sees the possibility of building a News Corporation Internet empire without acquiring Yahoo, then he will never spend the money.

That's $10 billion!

Currently, News Corp. is communicating with Myspace's shareholders and management, intending to acquire a wholly-owned subsidiary.

The specific acquisition is still under negotiation, and the price...that is, between $500 million and $600 million.

The difference is too big!

Dunn is confident that as long as Google can participate in the layout, it can easily divide the tripartite consortium of Microsoft, Time Warner and News Corporation.

News Corp, must quit!

As for Microsoft and Time Warner... Dunn has no chance of getting it done.

Microsoft urgently needs to complete the layout in the Internet age, and Yahoo's online services, search and advertising businesses are deeply coveted by Microsoft.

Not to mention Time Warner, AOL is about to become tasteless. If there is no turning point and rescue, it can only be separated out and AOL will be left to fend for itself.

The next step is to persuade Yahoo to resist this tripartite acquisition.

Yahoo's current chairman and CEO Terry Messer was born in Hollywood.

Before that, he was chairman and CEO of Warner Bros., and led Warner Bros. to Hollywood in the 1990s.

Warner 10 years ago was similar to the momentum of New Universal in Hollywood now.

By the time Terry Messer took over, Yahoo's market value had fallen to $10 billion.

Now Yahoo's market value is 50 billion US dollars, and Terry Messer has a lot of credit.

According to the report submitted by 386 S&P constituent companies to the US Securities and Exchange Commission at the beginning of the year, the Associated Press has provided the annual income statistics report of the CEOs of these companies after investigation and statistics.

Among them, the annual salary of many company CEOs is pitifully low.

For example, Terry Considine, CEO of an apartment investment management company, has an annual salary of 0.

For example, Google CEO Eric Schmidt earns $1 a year.

Apple CEO Steve Jobs, for example, earns $1 a year.

Some are very few, some are very high.

The highest ranked... is Yahoo CEO Terry Messer!

His annual salary in 2004 was as high as $70 million!

This is the difference between a company founder, a major shareholder, and a professional manager.

Yahoo doesn't have much of a historical mission for Terry Messer. He was born in Hollywood, and he will inevitably be marked with many Hollywood marks.

Like the desire for power!

Like being stubborn!

For example, the pattern is not high!

In 2006, Terry Messer asked Yahoo to buy Mark Zuckerberg's Facebook for $1 billion, but was rejected. You know, News Corp. bought the industry's No. 1 Myspace more than half a year ago, and it only cost $560 million.

At the time, Terry Messer's reaction was not to continue raising the offer, but to say something bordering on sarcasm: "I've never seen anyone in my life turn down a billion dollars."

These are the shortcomings that Dunn can take advantage of.

...

The Allen & Co. headquarters building should have been around for decades and looked a bit old-school.

Offices, living rooms, meeting rooms and dining rooms are all decorated with wood.

The surrounding walls are filled with works by carefully selected American painters, full of art, but also full of old-school entrepreneurial business style.

However, in the sunny Sun Valley, what surprised Dunn most was not the architectural style and decoration concept, but the outdoor sports.

The current CEO of the Allen Company, Herb Allen, was a member of the tennis team when he was in college at Yale. Representing the school, he has also participated in many domestic and international competitions and achieved some results.

Lacrosse is a simple game, but it's a bit of a workout.

Old guys like Murdoch can only laugh and laugh onlookers, admiring the heroic appearance of many American business elites in the arena.

If this game is televised, it will definitely have good ratings!

Including Dunn Walker, Bill Gates, Larry Page, Terry Messer and others, all came off the court to participate in the game.

The organizer, Herb Allen, acted as the referee and docent.

The competition of the big guys is not fierce, and the competitiveness is not strong. Although everyone wears masks, protective gear, and sportswear, on the field, everyone is polite and shows a good demeanor.

Tang En was the youngest and had the best physical fitness. He was in a good mood playing a game with many business leaders.

After the rest, Dunn took off his protective gear and took the initiative to come together with Terry Messer.

Coincidentally, Bill Gates was also by his side.

Everyone came here to gather in Sun Valley this time, not to play golf on vacation, but for business negotiation.

This Sun Valley Conference, the most important business negotiation, is the acquisition of Yahoo!

Once Microsoft, Time Warner, and News Corporation reach a three-way cooperation to acquire Yahoo, the price of this transaction, after a premium... I am afraid it will reach 70 billion US dollars, or 80 billion US dollars!

"Bill, do you really want to buy Yahoo?" Tang En asked straight to the point, like a stunned young man.

Bill Gates was stunned for a moment and said with a smile: "I remember... New Universal and MSN are still partners. If MSN can integrate some of Yahoo's businesses, it can deepen our partnership."

"I'm sure." Tang En nodded in agreement, but the conversation changed, "But to be honest, from a business point of view, I don't think the merger of Microsoft and Yahoo can be a win-win situation."

"Oh?"

Terry Messer couldn't help but ask.

Holding the protective gear, the three walked towards the sidelines. Tang En said softly without changing his face: "The market share of Microsoft and Yahoo has been declining, and the merger cannot solve the problem of declining market share."

Bill Gates said: "We specifically calculated that if Microsoft and Yahoo merged, the new company's share of the advertising market would reach 30%! And Google's only 2%."

Google's current advertising business cannot dominate the United States, and it will have to wait until 2006 to complete the acquisition of Doubleclick.

Dunn smiled: "If business can draw conclusions through calculation, then entrepreneurs will be mathematicians."

Immediately, he looked solemn and said: "Bill, I know your ambitions, but mergers and acquisitions cannot change the current situation of Microsoft. If a giant wants to turn around, it must not pull another giant. This is a basic physical principle. If it does, Microsoft will only be able to do part of Yahoo's business, and other businesses with uncertain prospects will inevitably be closed or sold. By then, the new company with 90,000 employees will be hobbled."

Bill Gates said with a smile: "There are also Time Warner and News Corp. Dunn, the words of competitors...sometimes may not be credible."

"Competitors? Are there any here?" Dunn showed a dazed look, "New Universal and MSN are partners, as well as partners of Microsoft's HD-DVD business. Not to mention Yahoo, Yahoo's online music and Online photo business, all have authorization from us."

Bill Gates was a little speechless about Dunn's acting stupid.

Terry Messer suddenly said, "Rupert talked to me. News Corp. will not be involved in the short term."

"what?"

Bill Gates was taken aback.

Tang En almost laughed, coughed lightly, and continued: "Microsoft's strong position in the software field cannot help it conquer the Internet market. Besides, Yahoo's corporate culture is quite different from Microsoft's. However, I also recognize many According to analysts, Microsoft and Yahoo do have the possibility of merging. However, it cannot be a spin-off of Yahoo, but a spin-off of Microsoft. Spinning off Microsoft's Internet business and merging it into Yahoo will be more successful. Microsoft continues to reign supreme in software."

Bill Gates nearly vomited blood.

Terry Messer couldn't help laughing "Interesting suggestion, I think it works!"

Clearly, there is no 100% reason why he can't hand over control of Yahoo.

Murdoch's rebellion, Bill Gates' helplessness, and Terry Messer's scruples, all made Dunn see every scene.

almost!

The more minds there are, the less likely it is to cooperate!

In a short period of time, it is impossible for several parties to reach an agreement.

This kind of super merger, normal business logic, has to go through many years of operation.

In the previous life, until 2008, Microsoft, Time Warner, News Corp. and Yahoo were still rumored to have various merger scandals.

However, Yahoo has always refused because the other party seriously underestimated the value of Yahoo.

It wasn't until many years later that Yahoo really couldn't survive, so it split off the shares of Yahoo Japan, Alibaba and other investment projects, and established a holding company called "Ali's Dad". The rest of Yahoo's main business was sold in a package for $4.8 billion.

The empire of hundreds of billions of dollars collapsed.

To tell the truth, now Yahoo, Dunn is also very coveted.

This is the world's largest portal, the world's second largest search engine, the world's third largest Internet advertising company, the world's fourth largest chat social platform, the world's largest online music service provider...

Yahoo has a lot of projects.

Dunn is very optimistic about many projects. If they are properly developed, they will have great market potential.

However, Yahoo's founders and major shareholders are more stubborn.

This is a good thing.

As long as Yahoo does not split up and continues to follow the process of the previous life, it will still be the best era for New Universal!

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