Media In The City: Terry Semel Leaves Yahoo!

Much of the City news this week focused on Yahoo!, with Terry Semel stepping down as Yahoo! chief executive after six years at the helm, to be replaced by co-founder of the company, Jerry Yang.

Semel’s departure followed criticism that he did not do enough to capitalise on search advertising whilst in charge of the digital giant (Full Story).

There were also rumours that News Corporation could sell MySpace in exchange for a quarter of Yahoo! (Full Story).

Reports claimed that Murdoch was considering selling MySpace for $12.3 billion (£6.2 billion) for a 25% stake Yahoo!.

Also this week, it was reported that Chrysalis had entered into talks with Irish private equity firm Lydian Capital over the sale of its radio business.

Lydian Capital, in exclusive discussions to buy the radio business, is a Swiss-based investment vehicle chaired by Irish entrepreneur Denis Brosnan, and backed by Irish businessmen JP McManus and John Magnier (Full Story).

Meanwhile, Aegis acquired the full service event and experiential marketing agency Vivid Marketing (Full Story), whilst Dennis Publishing reached an agreement to sell its American magazine arm to a private equity fund focused on the media and communications industries (Full Story).

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