Mason Networks Snapped Up by Yahoo! for $160,000,000!

Date: 02-15-2008

Internet Giant Yahoo! has acquired Mason Networks, a provider of online video technology, for a staggering $160 million in an effort to enhance Yahoo!'s own state-of-the-art embedded video and advertising technology. The deal will help Yahoo upload video to sites and sell advertising within and around the clips, which will put them in direct competition with arch-rival Google Inc, which offers video advertising through its YouTube site. On another front, Yahoo!'s second biggest shareholder, Legg Mason, has sought a significantly higher bid for Yahoo! from Microsoft than the current bid, which is close to $40 per share. Bill Miller, a prominent fund manager at Legg Mason, said in a recent letter to investors that Yahoo! doesn't have any credible strategy to resist the takeover other than demanding a hike in Microsoft's offer.

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