According to an article from the Wall street journal, Yahoo is pursuing talks with potential partners despite the failure of the previous bid from Microsoft. Probably to decide about its future, rather than being swallowed by one of those big sharks, Yahoo has decided to be pro-active, and look for a potential partner in order to reach the critical mass that will make them safe from unfriendly offer. Even though talks are just starting between Time Warner's AOL and Yahoo, the goal might really be to avoid being acquired by Microsoft, News Corp or even Google.
[translation by Linathael]