- HP's 3Com takeover marks a shot at Cisco
- Applied Materials to cut 1,300 to 1,500 jobs
- Drug industry presses FDA to allow more online ads
- Watch concerts free online at BillboardLive.com
- Yahoo CEO pledges to boost profit margins
- Electronic Arts acquires Playfish for $275 million
- Wal-Mart, Amazon, Target in DVD price war
- DirecTV shows subscriber gains, as rivals see loss
MOST SHARED
- Hewlett-Packard to Acquire 3Com for $2.7 Billion in Cash
- How the Droid and Google Threaten the GPS Makers
- CNN Anchor Lou Dobbs Says He is Leaving Network
- Dollar Trouble, Oil's Bubble Could Derail Recovery
- USC Football Blog Leads All-Access Space
- Rising Jobless Biggest Threat to World Trade: WTO
- Shopping for Answers
- HPQ to Acquire 3Com
- Highest State Foreclosure Rates
- Rising Jobless Biggest Threat to World Trade: WTO
- Gold Hits $1,122, Barrick Chief Says Selloff Possible
- Wall Street Pay Is Often too High: Bill Gates
- Morgan Stanley Gets Aggressive in Luring Brokers
- Foreclosures Fall Again But Improvement Likely Fleeting
- Highest State Foreclosure Rates
- Yuan Critics Want Obama to Keep Campaign Promise
- Obama Most Powerful Person in World: Forbes
- Hewlett-Packard to Acquire 3Com for $2.7 Billion in Cash
Text Size 
Former AOL Chief Executive Jonathan Miller is trying to raise capital for Velocity Interactive Group, an investment firm focused on digital media where he is a partner, and not for buying Yahoo Inc. [YHOO
Loading...
()
], the New York Post reported.
 |
Miller, who led AOL, Time Warner Inc.'s [TWX
Loading...
()
] online advertising division, from 2002 to 2006, is seeking as much as $30 billion from investors to buy all or part of Yahoo, the Wall Street Journal reported on Tuesday, boosting shares of the Web search engine firm 7 percent.
But the chances of Miller, an Internet industry veteran, doing a deal with Yahoo are extremely low, the paper said, citing a source familiar with Miller's fundraising efforts.
Miller has been talking with private equity firms and sovereign wealth funds about raising capital for Velocity Interactive, which he runs along with former Fox Interactive Media President Ross Levinsohn, the Post said, citing two other sources close to Miller.
Miller could not immediately be reached for comment.
Analysts have been skeptical about Miller's ability to raise funds for a possible takeover of Yahoo, as raising so much money in the current market may be tough, with banks unwilling to lend and several deals falling apart as companies find it nearly impossible to issue debt to finance acquisitions.
Last month, the Sunday Times reported, without citing its sources, that Microsoft Corp. [MSFT
Loading...
()
] is in talks with Yahoo to buy the U.S. internet company's online search business for $20 billion.
The proposal under discussion involves a complex transaction that would see the U.S. software giant support a new management team -- led by Miller and Fox Interactive's Levinsohn -- to take control of Yahoo, the Sunday Times had said.
But Levinsohn was quoted as saying the report was "total fiction" by the influential U.S. blog AllThingsDigital, affiliated with the Wall Street Journal.
Speculation about possible deals has been widespread after Microsoft withdrew a $47.5 billion offer to buy Yahoo in May after Yahoo's board and its then-CEO Jerry Yang rejected it as too low.
In July, Yahoo had suggested Miller as a nominee to its board, after investor Carl Icahn agreed to settle his fight with the Internet company in exchange for expanding the board.
But Time Warner blocked Miller's nomination, citing an agreement that banned him from working for competitors, including Yahoo, until March 2009.
Print
Email
- Bernard and Ruth Madoff's personal possessions will be auctioned this weekend. Click ahead to see.
- US real estate prices have fallen dramatically, but some places are still doing well. See the best-performing zip codes this year.
- An Italian cashmere maker aims to make profits while creating ideal conditions for his workers.
- Just in time for the holidays, the Triumph company of Japan offers the latest innovation in women’s undergarments.
- The real result of health care reform will be bloated government and higher deficits, says Larry Kudlow.
- Vote and suggest your own, and remember--there's a fine line between a hero and a zero.
Data is a real-time snapshot *Data is delayed at least 15 minutes