In yet another high-level executive departure, top-level content exec Luke Beatty, the founder of the Associated Content unit that the Silicon Valley Internet giant bought several years ago for $90 million, is departing, according to sources.
Beatty's move comes as Yahoo is preparing large-scale layoffs and a massive restructuring, which several sources said will begin mid-week.
It's another blow for the company, given the entrepreneurial Beatty was the kind of exec that Yahoo desperately needs to keep if its media aspirations are to remain innovative.
While Associated Content — now called the Yahoo Contributor Network — has been integrated into the media offerings at Yahoo, other upcoming cuts in Beatty's areas of management could be decimating.
The changes are due to a new initiative from new CEO Scott Thompson to turn Yahoo around after years of lackluster performance. The situation has been tense at the iconic company, made worse by an increasingly nasty proxy fight that is also looming.
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