Yahoo!’s (NASDAQ: YHOO) new CEO Scott Thompson said “We don’t need to reinvent who we are. We’re one of the leading media companies. But we do need to reinvent the experiences our users have.” He made the comment as he oversaw his first earnings call since joining the portal firm. The numbers were fairly good compared with expectations.
He has an odd view of what reinvention is. Thompson said he will eliminate nearly 50 properties which are not essential to the company’s future. He has fired 2,000 people. Thompson also reported that Yahoo! will become, at its new core, an online media company. His description may not use the term “reinvention” but it is hard to see his actions as anything else.
Yahoo!’s shares will still be driven by the fate of its stake in Alibaba and Yahoo! Japan, which have remain unaddressed
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