TW puts a hold on Miller joining Yahoo board

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Time Warner said that a noncompete clause in former AOL CEO Jonathan Miller's contract prevents him from joining Yahoo's board until March.

Yahoo named Miller as a potential board member July 21 as part of a settlement with activist investor Carl Icahn that averted what had promised to be a bitter proxy battle.

Miller had been mentioned as a possible successor to Yahoo CEO Jerry Yang, who has been unable to boost the company's market value during the first 13 months of his reign.

Yahoo spokeswoman Diana Wong declined comment Friday on Miller's status.

The latest development could put pressure on Time Warner's ongoing discussions to merge AOL with Yahoo. (partialdiff)
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