Yahoo cofounder and one-time (failed) CEO Jerry Yang is trying to take control of the company again.
He's trying to buy it.
There is a feud going on between Yang and Yahoo chairman Roy Bostock.
"Bostock is trying to keep Yang out," says a source close to the situation.
"It's playing out in meetings here."
Our source does not believe Yang has yet to find the capital needed.
Yang currently owns 3.63% of Yahoo. His fellow cofounder, and likely ally, David Filo, owns 5.80%.
Briefed on the details of this story a spokesman for the Yahoo board says "no comment."
Earlier today, activist hedge funder Daniel Loeb announced a 5.1% position in Yahoo and wrote a letter demanding that much of the company's board step down.
Earlier this week, Yahoo fired its CEO, Carol Bartz.
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See Also:
- Announcing Our Offer For Yahoo!
- Here's The Memo Yahoo's Board Sent Employees After Firing Bartz
- Here's What Top Yahoo Execs Just Told Employees About Firing The CEO
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