Reports Former AOL CEO Raising Money For Yahoo! (YHOO) Deal

According to reports from the Wall Street Journal, former AOL CEO Jonathan Miller is attempting to raise money to purchase all or a portion of online media company Yahoo! (Nasdaq: YHOO), citing people familiar with the matter.

Miller has been working with private equity investors and sovereign wealth funds for months to come up with the money for a deal, but it still remains unclear if the talks have progressed or are just continuing. Miller is looking for a deal worth between $20-$22 per share.

Sources at Yahoo told the paper that they have deep skepticism that Mr. Miller will be able to line-up the necessary financing.

Since Microsoft (Nasdaq: MSFT) walked away from its $31 per share merger deal with Yahoo!, shares of the company have plunged to the $10 range. Due to the mess surrounding the failed Microsoft deal and subsequent share sell-off, Yahoo! CEO Jerry Yang was forced to resign. Some are still convinced Microsoft could complete a search-only deal with Yahoo!.

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