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  "documentTitle": "Yahoo! Inc. (YHOO)",
  "authorId": "03_Starboard_Value",
  "authorName": "Jeffrey C. Smith",
  "documentKindSlug": "shareholder-letter",
  "documentKindLabel": "Shareholder letter",
  "sourceTypeSlug": "activist_investor",
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  "presentationDate": "2015-11-19 00:00:00",
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  "notes": "This is a page from a shareholder letter; the text is a continuous argument for a divestiture strategy.",
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      "kind": "callout",
      "text": "we believe Yahoo should hire a financial advisor to sell the Core Business as a taxable asset sale.",
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      "kind": "paragraph",
      "text": "In one of our recent conversations, you argued that the Core Business will become more valuable if management is able to turn it around... Thus far, there has been little evidence of a turnaround, and, as described above, recent results are actually moving decidedly in the wrong direction.",
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      "kind": "paragraph",
      "text": "Therefore, as we privately communicated to you recently on several occasions, instead of continuing to go in the current direction with potential significant risk, we believe Yahoo should hire a financial advisor to sell the Core Business as a taxable asset sale.",
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      "kind": "paragraph",
      "text": "Based on our evaluation of the risk-adjusted options currently available to Yahoo, as well as the market's assessment of the current strategy and risks thereof, we believe the Board needs to be open to changing direction.",
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