Brett Sappington, director of research at Parks Associates, said one of Yahoo's biggest mistakes was not making bets in new and innovative areas, as Google and Amazon have.

"In the world of the Internet, which is diverse and incredibly unpredictable, you have to be adaptable and open to change," said Sappington. "Yahoo in contrast really defined their business very tightly."

Yahoo plans to reveal details of strategic changes to its core businesses during its next quarterly conference call. It wouldn't discuss options for selling those businesses.

From the article "Yahoo could become Internet history" by Richard Nieva & Stephen Shankland.

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