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BREAKING NEWS FROM CNBC’S KAYLA TAUSCHE: YAHOO BOARD TO TACKLE CEO SEARCH WEDNESDAY – SOURCES

WHEN: Today, Friday, July 6, 2012

WHERE: CNBC’s “The Kudlow Report

Following is the unofficial transcript of breaking news from CNBC’s Kayla Tausche. Following is a link to the video on CNBC.com: http://video.cnbc.com/gallery/?video=3000101392

Additionally, here is the link to Kayla's story on CNBC.com: http://www.cnbc.com/id/48101281

All references must be sourced to CNBC.

KAYLA TAUSCHE: GOOD EVENING, LARRY. I’VE JUST LEARNED FROM SOURCES FAMILIAR WITH THE SITUATION THAT YAHOO’S BOARD IS PLANNING TO MEET NEXT WEDNESDAY, JULY 11TH. THAT IS OF COURSE ONE DAY BEFORE THE COMPANY’S SHAREHOLDER MEETING AND IT FALLS RIGHT IN THE MIDDLE OF THE ANNUAL SUN VALLEY MEDIA CONFERENCE. THE TOP ITEM ON THE AGENDA IS THE PROGRESS OF THE CEO SEARCH. I’M TOLD BY THESE SOURCES THAT INTERIM CEO ROSS LEVINSOHN IS CURRENTLY THE LEADING CANDIDATE, BUT IT REMAINS UNCLEAR WHETHER THE BOARD WILL COME TO A CONSENSUS DECISION NEXT WENDESDAY OR NOT. OF COURSE LEVINSOHN JUST REACHED A KEY AGREEMENT WITH FACEBOOK’S SHERYL SANDBERG OVER AN OUTSTANDING LAWSUIT REGARDING PATENTS. WE WILL WAIT AND SEE WHAT HAPPENS, WE WILL REPORT FOR YOU WHEN IT HAPPENS, BUT YAHOO’S BOARD IS SET TO MEET AND HOPEFULLY WE WILL GET A CEO DECISION NEXT WEDNESDAY.

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