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Additional info for Apple Magazine (6 May 2016)
Reveal by Apple CEO Tim Cook at last year’s Worldwide Developers Conference (WWDC), the Cupertino giant’s much-hyped music streaming service, Apple Music, has made strong progress in eating into Spotify’s formidable and longestablished share of this market. During Apple’s second-quarter 2016 earnings call, Cook confirmed that the service now boasted 13 million paid subscribers, a two-million jump on February’s figure. However, amid the rising user numbers, the service’s wider evolution continues apace.
Yahoo’s board maintained in its filing that it was only worth about $14 million as of April 1. The chances of a sale happening at Yahoo Inc. increased earlier this week when the Sunnyvale, California, company reached a truce with activist investor Starboard Value, an outspoken critic of Mayer’s that has been pushing her to sell. Starboard CEO Jeffrey Smith is now one of three Yahoo directors on a special committee assessing the bids for the Internet business. 41 42 Although Yahoo’s hasn’t set a timetable for reaching a decision, most analysts expect a deal to be struck within the next two months at a price ranging anywhere from $4 billion to $10 billion.
Instead, Yahoo’s long-running slump has deepened during her reign, making her pay a prickly topic among investors. “I don’t think this management team has done anything to merit a huge payout,” said Eric Jackson, managing director of SpringOwl Asset Management, a Yahoo shareholder critical of Mayer’s leadership. Yahoo declined to comment beyond its filing with the Securities and Exchange Commission. The documents didn’t explain the rationale for the severance packages covering Mayer and other Yahoo executives, although they are common at most publicly held companies as a way to maintain some stability during times of uncertainty.