Yahoo purchase might be near as former AOL chief seeks acquisition

By: Rob Adams
Published: Dec 3, 2008
Updated: Mar 14, 2010

Former AOL Chief Executive Jonathan Miller is trying to raise as much as $30 billion to purchase Yahoo. Sources familiar with the matter say Miller approached the Internet company last week. Analysts remain skeptical as raising capitol will be tough during a downward economy.

Yahoo Inc might be sold if one buyer can raise enough capital. Former AOL Chief Executive Jonathan Miller is trying to raise enough capital to purchase Internet search engine Yahoo.

Analysts are skeptical since the market is currently in a recession. It might be difficult to get banks to lend money, or partners to invest during a downward economy.

Jonathan Miller led Time Warner Inc's AOL advertising division from 2002 to 2006. If anyone can make something out of Yahoo, it is Miller. He's a straight shooter and has a proven track record to make things happen.

It was reported last weekend that Microsoft Corp wanted to buy Yahoo for $20 to $30 billion. Bloggers ripped on the news piece saying it wasn't so. One blogger reportedly said that Yahoo was only worth $13 billion as of last Monday. For that reason, the bloggers didn't see any truth to Microsoft wanting to buy the search engine company for $20 billion.

However, if Microsoft is not in secret talks with Yahoo for a $20 to $30 billion purchase, then why is Jonathan Miller? Is Miller any different on the bid than Microsoft?

Maybe Microsoft and Jonathan Miller could buy Yahoo. After all, Microsoft has the money and already showed interest. It would seem like a good fit to buy Yahoo and place Miller as its new CEO.