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Yahoo formally explores sale of core units

In what could turn out to be the beginning of the end of a fabled Internet company, Yahoo started a formal process Friday that could result in selling all or parts of its business.

The company announced that its board had formed a committee of independent directors to consider strategic options while it continues to pursue a complex plan to split its operating businesses from its 15 percent stake in Alibaba, the Chinese Internet company.

The move, which Yahoo telegraphed when it reported its financial results early this month, will allow potential bidders to examine its finances and decide whether to make offers for all or part of it. More than a dozen companies and private equity investors, most prominently Verizon, have expressed preliminary interest in buying at least some of Yahoo.

Activist investors like Starboard Value have been pushing for a sale of the core business, which includes the company’s Web search, email service, sports and financial news, and separately operated services like the Tumblr blogging network and the Flurry mobile analytics service.

ON THE MOVE

Sisters Empowering Hawaii is honoring seven local women, who have made exceptional contributions to their society and communities, at an awards luncheon from 11 a.m. to 2 p.m. March 6 at the Honolulu Country Club.

>> Maya Soetoro- Ng is being honored with the Sisters Empowering Hawaii Global Peace and Social Justice Award. She is the sister of President Barack Obama as well as director of community outreach and global learning for the Matsunaga Institute for Peace and Conflict Resolution at the University of Hawaii at Manoa.

>> The Women Making History Crystal Award will be given to Deborah Smith Pegues, a Fortune 500 vice president; Col. Celethia Abner-Wise, chief of Clinical Operations 18th Medical Command at Fort Shafter Hawaii; civil rights attorney Daphne Barbee-Wooten, who served on the first Hawaii Civil Rights Commission and was the first EEOC trial attorney in Honolulu; Lori Chaffin, author and publisher of Your Health Hawaii Magazine; Vicky Holt Takamine, co-founder and executive director of PA‘I Foundation; and Kathryn Xian, nonexecutive director of Girl Fest Hawaii and executive director of the Pacific Alliance to Stop Slavery.

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