yahoo inc

A group representing big-spending national advertisers said Sunday it sent a letter to the Justice Department asserting an online ad partnership between Yahoo Inc. and Google Inc. will stifle competition and likely raise prices.

Yahoo Inc's board of directors won strong backing from shareholders at its annual meeting on Friday, with Jerry Yang, the company's embattled CEO, receiving 85 percent of the vote in his favor.

Investors holding nearly 76 percent of Yahoo's 1.38 billion shares gave solid votes in favor of all nine current directors, in what represents an endorsement of their tough stance with Microsoft Corp in talks on a merger or partial sale.

Yahoo Inc.'s first-quarter performance was a little like Goldilocks' favorite soup — not too hot and not too cold, and that has set the table for a bitter battle over Microsoft Corp.'s bid to take over the Internet pioneer.

Yahoo Inc. will begin showing homemade videos on its online photo-sharing site, Flickr, in a long-anticipated move that may be too late to lure most people away from the Internet's dominant video channel, Google Inc.'s YouTube.

Yahoo Inc.'s board has concluded Microsoft Corp.'s $44.6 billion takeover bid undervalues the slumping Internet pioneer and plans to reject the unsolicited offer, a person familiar with the situation said Saturday.