The Yahoo Soap Opera Goes On

It's like when one of the actors falls down an elevator shaft or turns up missing while hiking in the Andes. You might not see the actor on the show for a while, but that doesn't mean he won't be back. It's probably just a contract dispute. Emergency brain surgery, acute amnesia, a long-lost evil twin -- these are all great ways to get them back on the show.

And so it goes for Microsoft. They might be out of the soap opera for now, but don't count them out completely.

Meanwhile, it is going to be a rough couple of months for Yahoo. The search advertising deal with Google is estimated to bring in $800 million in annual revenue, but news that talks between Yahoo and Microsoft were officially over sent Yahoo's stock plummeting by 10%.

By the way, the deal with Google has a $250 million buyout clause should anyone be interested in buying Yahoo in the future. And who would that be? Let's just say they are leaving the back door open just in case an evil twin wants to show up.

The next important date for Yahoo is August 1st. That's when Yahoo will convene its annual meeting and find out if Carl Icahn has gained enough support to take over the board and oust co-founder Jerry Yang as Chief Executive.

So don't worry. With or without Microsoft, there's still plenty more to come on the Yahoo soap opera.