Former AOL CEO raises money to buy Yahoo

Former AOL chief executive Jonathan Miller, one of the protagonists in the Microsoft takeover rumors, has said he is seeking $30 billion from like-minded investors to buy all or part of Yahoo.

Jonathan Miller

However, the objective reason is that in the context of the economic crisis, it is not easy to find so much money, banks are reluctant to lend, and other companies, already torn apart by the economic crisis, are unlikely to contribute.

Miller said he hopes to raise $28 billion or $30 billion to buy the entire company before Yahoo's stock price rises to $20 to $22. Based on its current share price, Yahoo is worth $15.7 billion.

Miller led AOL, Time Warner's online advertising division, from 2002 to 2006. Collins Stewart analyst Sandeep Aggrawal said, "Miller is an Internet visionary who values his work and has done a great job at AOL."

But analysts remain skeptical that Miller's plan will succeed, given the current market environment and Yahoo's multiple challenges, including Yang's search for a new CEO and a shrinking online advertising market. "I find it hard to believe that anyone could buy Yahoo with that much spare cash," the analyst said.

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