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.
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD+, CNBC is the recognized world leader in business news providing real-time data, analysis and information to more than 390 million homes worldwide. The network's 16 live hours a day of business programming in North America (weekdays from 4:00 a.m.- 8:00 p.m.) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC.com and CNBC Mobile Web (mobile.cnbc.com) offer real-time stock quotes, charts, analysis and on-demand video.
Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://www.nbcumv.com/mediavillage/networks/cnbc/