Yahoo!'s Board of Directors has announced it formed a Strategic Review Committee of independent directors who are tasked with "exploring strategic alternatives" alongside its existing management structure.
Put in simpler words, Yahoo! is looking for a buyer, and the company hired a group of former Silicon Valley execs and lawyers to search and field offers for a possible acquisition.
Just days prior this announcement, the company also laid off 15% of its staff (~1,600 employees) and said it would be closing down various business verticals.
This list includes sites like Yahoo Food, Yahoo Health, Yahoo Parenting, Yahoo Makers, Yahoo Travel, Yahoo Autos, Yahoo Labs and Yahoo Real Estate.
As you can see, these are all smaller magazines which failed to attract a following and are now being cut off to avoid dragging the company's profits down.
