Yahoo (YHOO -0.9%) CEO struck a secret truce with in April 2015 with Jeffrey Smith's Starboard Value in which she promised to trim costs, and Smith, in return, agreed to withdraw his board nominees.via Douglas Macmillan at WSJTrouble is, Yahoo's expenses ballooned from there, including $20M for the rights for the NFL's first streaming-only game, and more than $160M for the purchase of Polyvore (triple what Yahoo's top dealmaker figured it was worth).In the first two quarters after the agreement, Yahoo's total expenses rose an average of 21% vs. 6% less than a year earlier.It wasn't an easy job to begin with, but Mayer made things tougher by doubling down on turnaround efforts and clinging to the idea she was going to save Yahoo.Smith's frustration eventually boiled over into a revolt beginning in November, and ending with Starboard taking nearly half of Yahoo's board seats. Final bids are expected soon on a sale of the company's core operations.
Verizon to Bid $3 Billion for Yahoo’s Web Assets
Private-equity firm TPG also expected to make new Yahoo bid
By RYAN KNUTSON and DOUGLAS MACMILLAN
June 6, 2016 10:02 p.m. ET
Wall Street Journal article