Investor Blasts Yahoo Over Tumblr Strategy, Calls for AOL Merger

Hedge fund pushes for change

Yahoo is under pressure to merge with AOL as an activist Wall Street fund pushed today for big changes at the Internet advertising giant. The hedge fund, Starboard, wrote a letter to Yahoo's board with a list of demands to reinvigorate the business.

The Internet company has been in a rut—some would say for years—but most recently since China's Alibaba went public earlier this month. Yahoo! is part owner of the hot Chinese e-commerce firm, and its stake has been a big part of Yahoo!'s value.

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