Yahoo Investor: Company Cannot Waste More Capital

Reuters: Canyon Capital Advisors sent a new letter to Yahoo’s board on Thursday, asking it not to waste any further capital and to prioritize a sale of its core business, a portion of its assets, or the entire company. Canyon, a Yahoo shareholder, wrote in a letter that the Internet company’s board and management team have spent in excess of $3 billion on acquisitions to which the market appears to ascribe absolutely no, or negative, value.