I personally think that the other parts of Yahoo have negative value because they're part of Yahoo. If Mayer took a holding company approach, they could each sp

I personally think that the other parts of Yahoo have negative value because they're part of Yahoo. If Mayer took a holding company approach, they could each spin out, IPO with 49% of their respective shares and suddenly be valued at something much larger. Overnight Yahoo (the holding company) would increase and raise cash purely through this change in organizational fiction.