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Yahoo Mulls Olympic Broadcast Rights, Layoffs

New Yahoo CEO Scott Thompson is in the midst of implementing massive changes to the Internet giant. He’s brought in a consulting group to help guide him through the effort. You don’t have to watch House of Lies to know what that means: layoffs. AllThingsD reports the carnage could number in the thousands, although no major job cuts have been announced yet. Yahoo Labs head Prabhavar Raghavan, however, recently jumped ship to Google in anticipation of massive cuts, sources are telling AllThingsD.

So where is the money saved from axing research engineers going to go? According to Toronto’s The Globe and Mail, Yahoo may be on the verge of securing Canadian broadcast rights to the 2014 Sochi Olympic Games.

Broadcast rights to the 2014 Winter Games in Sochi, Russia and the 2016 Summer Games in Brazil are up for grabs after the International Olympic Committee rejected two “lowball” bids by a Canadian Broadcasting Corp. and BCE Inc. partnership. Their most recent bid was quietly rejected in late February, The Globe and Mail has learned. That has opened the door for Yahoo, which is now weighing using the Canadian broadcast rights as an opportunity to enhance its reputation as a content producer and revitalize its fortunes after losing ground to rivals such as Google Inc.

The Olympics, huh? Is Dick Ebersol consulting for Yahoo these days?

H/T Mediawire

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