Katz out of Yahoo's bag
It's Monday and guess what? The media churn continues. Variety reports that David Katz, the Yahoo sports and programming exec "who led the company's first consistent effort at original programming," is no longer yodelling along with the team in Santa Monica.
Katz was an up-and-comer at CBS when he joined Lloyd Braun's Yahoo Media Group in the summer of 2005. That was when some Yahoo types thought it made sense to hire a bunch of high-paid Hollywood talent to compete with Google. (Recall too that the two companies had roughly the same market cap at the time - until, that is, Yahoo's stock price took a dive, giving the online portal a current market value that's exactly one-fourth the size of GOOG's $147 billion valuation.)
Yet another bit of bad news for Yahoo: Its "major video partnership" with Current TV, Al Gore's TV network, is no more. You know you've lost your groove in Hollywood when you get dissed by Al Gore.
But fear not intrepid YHOO investors! Variety reporter Ben Frist says, under a separate byline, that the turnover in the YMG has been a good thing. "[A]fter nearly two years during which they were seemingly stuck in neutral, Yahoo Media Group executives say they now have a clear vision that is starting to bear fruit."
The Browser's not convinced yet. We can't wait for the next episode of Yahoo's own version of 'The Office,' which Rafat Ali at paidContent says may come as early as this week: "we have heard from sources that a major exec meeting across the board (VP level and above) is slated at Yahoo, this Tuesday....not sure what the agenda is, but restructuring the executive portfolios might be one part of it, there's speculation internally."
What's the Monty Python line? "This calls for immediate discussion." As always, The Browser awaits your predictions....
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