Yahoo's CEO Mayer's Spending Spree Has 'No End In Sight'

According to the New York Post, Yahoo! Inc. YHOO is planning on spending $3 billion to "bolster" its "struggling" web content portfolio. The New York Post, citing "sources close to the company," reported that the "spending spree" could "further upset" key shareholders that are already frustrated with Yahoo's lack of growth. The company is already under fire for spending more than $7 billion on acquisitions that have "yet to pay off." The publication added that it is not clear if the funds will be used for acquisitions, but the company will reveal its plans soon - perhaps after Mayer returns from her maternity leave. Until Yahoo confirms its spending plans, it is unclear whether Mayer has "axed" her spending plans or "intends to double down." In the meantime, the New York Post suggested that "Mayer's spending spree has no end in sight." Shares of Yahoo were trading higher by 0.49 percent at $30.78 heading into Monday's opening bell. However, the stock is lower by nearly 40 percent over the past year.