eBay rethinking future of StubHub and classified business

March 01, 2019 - 8:41 am

SAN JOSE, Calif. (AP) — eBay is initiating review concerning the future of its StubHub and its classified ads business.

The e-commerce company said Friday that there's no guarantee that the review will result in a sale, spin-off or other business combination involving its assets.

Activist investor Elliott Management said in a letter to the San Jose, California, company in January that it believed it would be better off without those businesses. Elliott wants eBay to focus on its online marketplace, saying that the change in direction could double the company's stock price by the end of next year.

eBay Inc. is also adding Jesse Cohn of Elliott and Matt Murphy of Marvell Technology to its board. The company will add an independent director later in the year.

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