Microsoft + Yahoo: Recapping Reactions

Now that we’ve posted our own five different stories on the
Microsoft bid for Yahoo,
I wanted to take a spin across what others are writing up. Below, a recap of things I
found interesting below. In particular, I’ve tried to focus on stuff that’s got
original observations or interesting tidbits other than the general news
dominating places like
Techmeme about the proposal. I’ll also update this page with new material
and note when new things have been added.

I’ll lead off listing our own stories:

• Microsoft Makes
  $45 Billion Bid To Buy Yahoo: The overview of Microsoft’s push to gain
  Yahoo. It’s important to understand that Yahoo didn’t ask for this and is to a
  large degree being caught off-guard. This is by no means a done deal,
  something easy to assume if you just scan headlines and are used to seeing
  other deals where both parties have agreed. This story goes into the offer
  plus some of the history of past attempts and rebuffs between the companies.
   
• Live Blogging
  Microsoft’s Bid For Yahoo Call: Rough notes from Microsoft’s conference
  call about the Yahoo bid.
   
• Microsoft Call:
  "We Love The Yahoo Brand" [But Can The Deal Happen?]: A cleaner, more
  analytical look at what was said on the conference call.
   
• MSFT + YHOO: What
  Would Microsoft Yahoo Look Like?: Some speculation on how the two
  companies might get combined.
   
• Q&A With Microsoft
  On Proposed Yahoo Purchase: 2+2 = #1: Some answers on Microsoft on how the
  integration would go, at least to say how the plan to figure out the actually
  integration would happen.

And from across the web:

• 
  Microsoft + Yahoo = Big Mess?, istartedsomething.com: A nice side-by-side
  chart listing various Yahoo and Microsoft properties, which underscores that
  this won’t be an integration but a pick-and-choose about what you keep affair.
   
• 
  DOJ ‘Interested’ in Microsoft-Yahoo Deal, AP: Sounds scary, but you kind
  of have to expect the US Department of Justice to say this. Of course they
  have to be interested in a merger of this size. If Yahoo actually accepts,
  then you really have to watch and see what’s said. Expect Google — slammed
  for months now over wanting to acquire DoubleClick — to do some hard push
  back.
   
• 
  Key Facts: Microsoft’s $44.6 Billion Bid For Yahoo, PaidContent: Nice
  ending point on major shareholders. The two cofounders have 10 percent
  combined. The largest institutional shareholder is Legg Mason Value Trust, with
  8 percent of the company.
   
• 
  Yahoo! Board of Directors to Evaluate Unsolicited Proposal From Microsoft:
  The headline almost says more than the single paragraph in this release from
  Yahoo. Thanks for the unsolicited offer, we’ll take a look.
   
• 
  Why Microhoo: To stop the Google machine: From Between The Lines, a good
  reminder of a key take from the conference call. Combining forces is a pitch
  Microsoft is using to say it’s the only way Google will get stopped.
   
• 
  Conference Call Presentation: A PDF file used on the call.
   
• 
  LIVE Blogging: Microsoft Yahoo Press Conference: From Allen Stern, a nice,
  clean transcript of the conference call.
   
• 
  An Offer Yahoo Can’t Refuse: Saul Hansell at the New York Times looks at
  some figures and decides Yahoo will have to do it, because no other suitors
  will offer as much.
   
• 
  Yahoo: Finally Catches a Bid. Deal is Done.,, Paul Kedrosky: "Tying two
  share-losing rocks together — both companies are losing marketshare in search
  and in search-related advertising — won’t make them fly." Yes, I agree! 
  "The answer is that Google is dominating a tipping market — search and online
  advertising — and consolidation among competitors is about the only rational
  response. A combined Yahoo/Microsoft would become a truly material piece of
  the ad market, in excess of 40%, which is enough for it to finally offer
  Google a credible threat." Oh, I disagree! Yahoo is already used by so many
  advertisers with the share it has and maintains. It’s not like they’re
  thinking Google and hmmm, maybe Yahoo. They’re thinking, Google, Yahoo, and
  hmmm, maybe Microsoft.
   
• The decline and fall of Yahoo,
  Valleywag: Short and nice history of Yahoo’s rising and falling fortunes.
   
• 
  What Would a Combined Microsoft-Yahoo Look Like?, TechCrunch: Let’s put
  these two kids into a spreadsheet and see how revenues compare. Boom, take
  that, Google! Of course, Microsoft already dwarfs Google in gross revenue,
  though less so in net profit.
   

• What
  Would Microsoft Mean for Flickr?, Wired: No one knows, but some Flickr
  folks are apparently already freaking out. C’mon gang, Flickr will be fine.
   

• 
  Google’s Tim Armstrong reacts to the Microsoft-Yahoo takeover: One of the
  few Google responses I’ve seen so far. Google’s confident in its business and
  more worried about staying focused than worrying about the competition.
   
• 
  Who’s in, who’s out at Yahoo after a Microsoft takeover, Valleywag: Funny
  rundown on speculation of what executives will survive a takeover. Funny,
  unless you’re one of the execs, of course.
   
• 
  Ballmer To Microsoft Troops: Listen Up, Too, Silicon Valley Insider: Steve
  Ballmer’s letter to Microsoftees, in case they hadn’t heard the news.
   
• 
  What Will Microsoft Yahoo Merger Mean for SEO?, Loren Baker at Search
  Engine Journal speculates that it’s Live Search that will go, Yahoo’s more
  mature service that will stay. Hmm. Someone’s core architecture will probably
  survive, and I honestly couldn’t say which way it will go.
   
• 
  Microsoft-Yahoo Deal Haters Emerge, WebProNews: Some folks don’t think a
  big rival to big Google is any better.

Postscript from Chris: For a lighter take on the proposed deal, take a look at the humorous 5 Microsoft-Yahoo! synergies you may not want from U.S. News & World Report.

Update 1, New Posts Worth Noting:

• 
  Microsoft to Yahoo: Two Days to Respond or Else!, AllThingsD: We
  noted how
  Microsoft seems to be pushing this "we called Jerry" idea to somehow make it
  seem like Yahoo is on board with the idea. Kara Swisher shows the takeover
  attempt to be even more blunt. Apparently, Yahoo was given two days to respond
  to the proposal before Microsoft promised to go public.
   
• 
  Microsoft and Yahoo!: Putting the Offer in Perspective, From Hitwise, lots
  of numbers showing where Yahoo and Microsoft might help each other or not.
   
• 
  Yahoo offer culminates a long flirtation, from Valleywag, the on-and-off
  again relationship between Y and M over the years.
   
• 
  YHOO/MSFT Bidding War? MSFT to Raise Offer? Doubtful – Silicon Alley Insider:
  Don’t expect anyone else to jump in, says Silicon Valley Insider.
   
• 
  MSFT: AT&T Not Interested: Says Silicon Alley Insider, AT&T encouraged
  Microsoft to bid for Yahoo. Hey AT&T, maybe when Google and Apple combined,
  that might come back to haunt you, if so.
   
• 
  Hold Everything! We May Get Another YHOO Bidder!* – Silicon Alley Insider:
  Wait, wait — Silicon Alley Insider now says some VC companies might take an
  interest.
   
• 
  Google to employees: No comment, and don’t even try that "off the record"
  stuff: Valleywag reports Googlers are told it’s verboten to comment.