Potential buyers are seeking acquisitions of stakes in Yahoo! Inc. (NasdaqGS:YHOO)'s core business from Starboard Value LP. Jeffrey Smith, Chief Executive Officer of Starboard Value, said, “I have been contacted by potential buyers of Yahoo's core business.” “ Despite over three years of effort and billions spent on acquisitions, the management team that was hired to turn around the Core Business has failed to produce acceptable results, in turn, causing massive declines in profitability and cash flow," Starboard Value LP wrote in a letter released January 6, 2016.

"It appears that investors have lost all confidence in management and the Board. If changes are not forthcoming in leadership,” Starboard Value said, an election may be needed to replace some members of the board. Starboard did not include any specific names in its letter.