Yahoo! has announced that four of their long-time board members are stepping down, whom are Roy Bostock, Vyomesh Joshi, Gary Wilson, and Arthur Kern. Two new directors at Yahoo! are former Rovi CEO Fred Amoroso and LiveOps Chairman Maynard Webb, who was once COO of eBay.

It’s been an intense couple of weeks at Yahoo! It has been about two weeks since Scott Thompson was hired as the CEO of Yahoo! and Jerry Yang stepped down completely from the company. Yesterday the company announced their quarterly results and it turns out that they saw a revenues loss from the year before.

Yahoo! Inc. has hired Scott Thompson as Chief Executive Officer, effective on January 9, 2012. Tim Morse will return to his duties as Chief Financial Officer, who was serving as the interim CEO when Carol Bartz was fired. Thompson has also joined Yahoo!’s board of directors. Thompson served most recently as the President of eBay subsidiary PayPal.

A consortium of investors that are being led by Microsoft Corporation (NASDAQ:MSFT) and Silver Lake are submitting a plan to buy a minority stake in Yahoo! Inc. (NASDAQ:YHOO). TPG Capital is another company that will be making a proposal for Yahoo! Both of these proposals would lead to taking a stake of around 20% of the company.

Microsoft Corporation (NASDAQ:MSFT) has signed a nondisclosure agreement with Yahoo! Inc. (NASDAQ:YHOO). The NDA means that Microsoft has lined themselves up as a potential bidder for the search engine and multimedia company.

Yahoo! Inc. (NASDAQ:YHOO) has fixed up their search engine to be more interactive for the holidays. The search features has Yahoo! content integrated with search results for shopping and recipes on top of the search results.

Google Inc. (NASDAQ:GOOG) executive chairman Eric Schmidt has been vocal about proposed legislation regarding online copyright regulation today and said that the PROTECT IP Act in the U.S. Senate and the Stop Online Piracy Act in the U.S. House of Representatives would censor the Internet. This bill is intended to combat pirated movies and music and allow copyright holders and law enforcement officials the ability to cut off websites.

Yahoo! Inc. (NASDAQ:YHOO) has acquired InterCLICK Inc (NASDAQ:ICLK), an advertising targeting and optimization software company for $270 million. What makes this deal interesting is that for the last few months, Yahoo! was rumored to be ripe for an acquisition themselves. InterCLICK’s data targeting and advertising optimization technologies will be rolled into Yahoo!’s own platforms. InterCLICK will allow Yahoo! to pool their inventory into premium packages.