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Terence Steven Semel (born February 24, 1943) is an American corporate executive who was the chairman and CEO of Yahoo! Incorporated from 2001 to 2007. Previously, he spent 24 years at Warner Bros., where he served as chairman and co-chief executive officer.

Key Information

Early life

[edit]

Semel was born to a Jewish family[1][2] in Brooklyn, New York, the son of Mildred (née Wenig) and Ben Semel.[3] His father was a women's coat designer and his mother was a bus company executive. He was raised in Bay Terrace, a community in Bayside, Queens. He was the middle child, and has two sisters.[4] At the age of 23, he graduated from Long Island University in Brooklyn with a B.S. degree in accounting.

Career

[edit]

Semel began working at Warner Bros. in 1965 as a trainee.[5] From 1970 to 1972, Semel worked for CBS corporation's theatrical film production company, Cinema Center Films, as domestic sales manager.

CBS closed Cinema Center Films in 1972 and Semel moved to Walt Disney Productions, where he was vice president in charge of theatrical distribution until 1975.

In 1975, Semel returned to Warner Bros. Distribution as president, then moved into studio operations as an executive vice president in 1979. Frank Wells announced he was taking a less active role the company in 1981, Semel became president and chief operating officer of Warner Bros. on January 1, 1982.

In 1994, Warner Bros. Chairman and Chief Executive Robert A. Daly announced that Semel would become his co-chairman and CEO. The following year, the two men also became co-chairmen and co-chief executives of Warner Music following the firing of Michael J. Fuchs.

Both Daly and Semel resigned from Warner Bros. in July 1999.

Yahoo compensation

[edit]

In April 2001, Semel was granted stock options with an SEC Fair Value of over $110 million as a bonus to join Yahoo. In June 2006, his annual salary was reduced to one dollar.

Yahoo!–China cooperation controversy

[edit]

As CEO, Semel approved Yahoo!'s cooperation with Chinese officials to release previously confidential Yahoo! information to the Chinese government. This action by Yahoo! was not well received and he showed signs of regret as to how that information was being used. For example, in a widely publicized exchange at The Wall Street Journal's All Things Digital conference, he was asked if Yahoo! would have cooperated with Nazi Germany. In response, Semel, who is Jewish, stated, "I don't know how I would have felt then." He added, "I don't feel good about what's happening in China today."[6] When questioned on this topic in a Q & A discussion with Peter Bazalgette at The Royal Television Society Cambridge Convention in 2005, his response was "We have to abide by the laws in the countries in which we operate."

Interest in buying Google

[edit]

After joining Yahoo, company founders Jerry Yang and David Filo suggested he look at buying Google, whose founders looked up to Yahoo's founders. Semel had dinner with Larry Page and Sergey Brin, asking them what their business was with Yahoo paying only $7 million annually as its biggest licensor of Google search technology. So Semel proposed to buy Google. They replied that they wanted $1 billion and didn't want to sell. Semel said he'd think about the price. After another dinner Semel agreed to the $1 billion. Page and Brin replied that they wanted $3 billion and didn't want to sell.[7]

Lost chance to take over Facebook

[edit]

Semel was given the mandate by Yahoo Board to buy Facebook for up to 1.2 billion dollars, Mark Zuckerberg having asked a price of one billion dollars. He tried to make it nonetheless for $850,000,000, and Zuckerberg stopped the negotiating process.

Resignation

[edit]

Semel resigned as CEO due in part to pressure from shareholders' dissatisfaction over his compensation (in 2006, salary $1, stock options worth $70 million[citation needed]) and performance.

Semel ended his six-year tenure as chief executive officer Monday, June 18, 2007, and handed over the reins to co-founder Jerry Yang in the Internet icon's latest attempt to regain investor confidence. At age 64, Semel remained chairman in a non-executive role.[8] Besides naming Yang as its new CEO, Yahoo appointed Susan Decker as its president. Having recently been promoted to oversee Yahoo's advertising operations, Decker had widely been regarded as Semel's heir apparent. He later resigned from his post as non-executive chairman from Yahoo completely on January 31, 2008.

Other activities

[edit]

Semel is Co-Chair Emeritus of the board of trustees of the Los Angeles County Museum of Art (LACMA)[9] In 1995, he received the Golden Plate Award of the American Academy of Achievement.[10] In 2005, he was given the UCLA Medal, that University's highest honor, and the "Legend in Leadership Award" from the Chief Executive Leadership Institute of the Yale School of Management.

Personal life

[edit]

In 1966, he married Maryann Soloway; they divorced in 1974.[11]

In 1977, he married Jane Bovingdon,[3] a former secretary to the actress Susan George.

He has a son, Eric Scott Semel (b. March 15, 1969),[12][13][14] and three daughters, Courtenay Semel (b. November 11, 1979),[15][16] Lily Bovingdon Semel (b. 1985), and Kate Bovingdon Semel (b. March, 1992).[citation needed].

In 2004, the UCLA Neuropsychiatric Institute was renamed the Jane & Terry Semel Institute for Neuroscience and Human Behavior.[17]

Semel developed Alzheimer's disease, and began living in a nursing facility in 2016.[18]

See also

[edit]

References

[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Terry Semel

View on Grokipedia
from Grokipedia
Terry Semel is an American business executive renowned for his leadership in the entertainment and internet sectors, particularly as co-chief executive officer of Warner Bros. for over two decades and as chief executive officer of Yahoo! from 2001 to 2007. Semel began his career at Warner Bros. in 1965 as a sales trainee, advancing through promotions to become chairman and co-CEO alongside Robert Daly in 1994, a partnership that lasted until 1999. Under their stewardship, Warner Bros. expanded dramatically, increasing annual revenue from $750 million in 1980 to $11 billion by 2000 and EBITDA from roughly $100 million to $1.5 billion, establishing it as a dominant force in film, television, and home entertainment. Transitioning to technology, Semel joined Yahoo! amid the post-dot-com recovery, implementing strategies that restored profitability and pursued media acquisitions, though his tenure drew criticism for overlooking innovations in search technology—such as declining to acquire Google—and for prioritizing content deals over core product development. A notable controversy involved Semel's approval of Yahoo!'s cooperation with Chinese authorities, providing user data that facilitated the imprisonment of journalists, highlighting tensions between business expansion in authoritarian markets and ethical data practices. He resigned from Yahoo! in 2007 amid shareholder discontent over stagnant stock performance and internal disputes, including compensation issues, after which he returned to investments via Windsor Media and selective producing roles.

Early life and education

Upbringing and family background

Terry Semel was born on February 24, 1943, in , New York, to Jewish parents Mildred (née Wenig) Semel and Benjamin (Ben) Semel. His father worked as a women's coat designer, while his mother served as an executive at a bus company. Semel was raised in the Bay Terrace neighborhood of , a community in the Bayside area. This working-class environment in post-World War II New York shaped his early years, though specific details on his childhood experiences or extended family remain limited in public records.

Academic pursuits and initial career entry

Semel graduated from in , New York, with a degree in in 1964. Following his studies, he took a short-term position as an , which he found unfulfilling and quickly abandoned. Seeking entry into the sector, Semel secured an interview through a friend and joined Warner Bros. in 1965 as a in the company's program. This role marked his initial foray into the industry, focusing on and distribution amid the studio's operations in and emerging media. Between 1970 and 1972, he briefly worked at Corporation's theatrical production division before returning to Warner Bros., building foundational experience in operations.

Entertainment industry career

Entry and ascent at Warner Bros.

Semel joined Warner Bros. in 1965 as a sales trainee responsible for selling films to theaters, holding various sales and marketing roles through 1972. During the early 1970s, he briefly worked outside the company, serving as domestic sales manager at CBS-Cinema Center Films in 1971 and as vice president and general sales manager at Buena Vista Distribution (Walt Disney) starting in 1973. In 1975, Semel returned to Warner Bros., assuming leadership of its distribution operations and forming a key partnership with Robert Daly, who had joined the television division in 1971. This collaboration marked the beginning of their joint oversight of ' film and television businesses, which endured for over two decades. By 1978, Semel had advanced to executive and . Semel's ascent continued in 1980 when he was appointed president, vice chairman, and chief operating officer, positions that positioned him to drive operational expansions amid Warner Bros.' integration into larger corporate structures following mergers. In 1994, as president, he was promoted to co-chairman and co-chief executive officer alongside Daly, formalizing their shared leadership of the studio and extending responsibilities to include Warner Music by 1995. Under this structure, Semel focused primarily on business operations, distribution, and financial growth, contributing to revenue increases from $750 million in 1980 to $11 billion by 1999.

Leadership achievements and business expansion

Under Semel and co-CEO Robert Daly's leadership starting in the early 1980s, achieved 18 consecutive years of record profits and revenues through strategic diversification beyond theatrical films. The studio expanded into television production and syndication, home entertainment, and international distribution, transforming it from a primarily film-focused entity reliant on a single revenue stream generating under $1 billion annually into a powerhouse with nearly $11 billion in total revenues by the late . This growth represented a tenfold increase in revenue during Semel's tenure. A pivotal expansion was the creation of ' home video division in the early , which Semel helped pioneer by licensing film libraries for and later DVD formats, ultimately generating over $2 billion in annual revenue by the . The duo also bolstered the television arm, overseeing hits like ER and Friends through Television, which contributed to steady via domestic and global syndication deals. Internationally, extended its reach by establishing joint ventures and local production facilities in and , capitalizing on rising demand for dubbed and subtitled content, which helped offset domestic market fluctuations. Semel's operational focus emphasized talent retention and deal-making, fostering long-term partnerships with directors like and executives such as , which underpinned consistent blockbuster output including franchises like Batman and . These efforts sustained profitability amid industry shifts, such as the transition from analog to precursors, though the studio faced challenges in music synergies post-Time Warner merger. By 2001, when Semel departed, Warner Bros. stood as one of Hollywood's most valuable assets, valued for its balanced portfolio across filmed entertainment segments.

Key strategic decisions and media innovations

Under Semel and co-chairman Robert Daly's leadership from the early to 1999, pursued diversification beyond traditional theatrical distribution to mitigate risks from box-office volatility and capitalize on emerging consumer trends. A pivotal strategic decision was the creation of the studio's division in the late and early , which Semel helped build into a major revenue stream generating over $2 billion annually by the mid-1990s through and later DVD rentals and sales. This move recognized the causal shift in viewer behavior toward on-demand home entertainment, reducing dependence on theater attendance and theaters' share of profits. Semel drove expansion into international markets, establishing distribution networks and localized production to tap global demand for Hollywood content, which contributed to ' revenue growth from approximately $750 million in the early to $11 billion by 1999 across multiple streams including film, TV, and licensing. He also spearheaded the consumer products division, leveraging from franchises like Batman and for licensed merchandise, which transformed characters into branded consumer goods and supported the opening of Studio Stores worldwide starting in the early . These initiatives reflected a first-principles approach to diversification, prioritizing scalable ancillary markets over sole reliance on primary production. In media innovation, Semel and Daly launched The WB Television Network on January 11, 1995, as a joint venture with Tribune Broadcasting to distribute Warner Bros. syndicated programming and original series targeted at younger demographics, bypassing traditional network constraints and building a dedicated outlet for studio content. This presaged modern studio-owned channels by integrating production, syndication, and broadcast control, yielding hits like Buffy the Vampire Slayer and fostering long-term franchise extensions. Their tenure also involved selective co-financing deals for high-risk films, spreading costs while retaining upside potential, which sustained 16 consecutive years of record earnings despite periodic theatrical slumps. These decisions empirically boosted profitability but drew criticism for over-reliance on blockbusters, as evidenced by later box-office challenges in the late 1990s.

Yahoo executive tenure

Recruitment and initial strategies

In April 2001, amid the dot-com bust that had eroded Yahoo's from $127 billion to $12.6 billion and led to net losses including $11.5 million in the first quarter, co-founder recruited Terry Semel as chairman and to replace Tim Koogle, with the appointment effective May 1. Yahoo had previously considered candidates such as former BMG CEO , NBC West Coast President Scott Sassa, and two senior executives before selecting Semel. Semel, a 24-year veteran of who had co-led the studio alongside Daly to expand its from under $1 billion to $11 billion across 50 countries with 18 consecutive years of record profits, was chosen for his media industry acumen, brand-building expertise, and ability to manage global operations and recruit leadership teams. His compensation included an annual of approximately $300,000, a substantial grant of stock options, and the private purchase of 1 million Yahoo shares. Semel's initial strategies emphasized revenue generation over unchecked user growth and audience expansion, marking a departure from Yahoo's prior culture that prioritized free services and traffic metrics. He refocused the company on as its core , targeting the top 200 global advertisers like while enhancing ad formats with sound, motion, and prominent placements such as animated banners on the homepage. To diversify beyond pure advertising reliance, Semel introduced fees for previously free offerings including personal ads, classifieds, and auctions; implemented paid directory listings through a with Services, featuring top-paying sites as "sponsored matches"; and launched a joint Internet service provider venture with SBC Communications. These moves aimed to expand paid services for consumers and es, leveraging Yahoo's brand and global audience for sustainable profitability.

Operational and financial performance

During Terry Semel's tenure as CEO from May 2001 to June 2007, Yahoo's annual expanded substantially from $717.4 million in 2001 to $6.4 billion in 2006, reflecting a recovery from the dot-com bust through diversification into branded , content partnerships, and premium services. This growth accelerated post-2002, with revenues rising 33% to $953.1 million in 2002, 70.5% to $1.62 billion in 2003, and 120% to $3.57 billion in 2004, driven by increased display ad sales and initiatives like inserting ads into search results. Profitability also rebounded, with the company achieving positive net income of $41.4 million in 2001 and swinging to larger quarterly profits, such as $237.7 million in Q1 2003 on 47% growth. Operationally, Semel emphasized media-style , hiring sales teams from traditional backgrounds and launching paid services like Yahoo Mail Plus and premium personals, which grew the subscriber base from under 1 million in early 2001 to 5.8 million by Q1 2004, with targets raised to add 15 million new paying users. User engagement metrics improved initially, with overall audience growth in properties like Yahoo Sports exceeding 78% to 5.7 million in 2001, supported by expansions into fantasy sports and global content deals. However, core search operations lagged competitors, as Yahoo lost in search queries while prioritizing branded content over algorithmic innovation, contributing to slower growth rates by 2006, such as 18% quarterly revenue increases—the lowest in over four years. Financial performance faced headwinds in stock valuation, with shares declining 30% from the start of 2006 amid investor concerns over decelerating growth and competitive pressures from Google, despite Semel's efforts in acquisitions like a $1 billion stake in Alibaba in 2005 that bolstered long-term assets. By mid-2007, quarterly results showed subpar performance, including revenue declines in some segments, prompting shareholder criticism of Semel's strategy for failing to stem erosion in search advertising dominance.

Compensation and shareholder relations

Upon assuming the role of Yahoo's CEO on May 1, 2001, Terry Semel entered into an employment agreement providing a base of $310,000 annually, along with eligibility for performance-based bonuses and equity grants tied to company milestones. His compensation structure emphasized stock options and units, reflecting Yahoo's tech-sector norms where executive pay aligned with creation through equity appreciation. By 2003, Semel's base had increased to $600,000, though he received no cash bonus that year amid mixed financial results. Semel's total compensation escalated significantly in subsequent years, driven by option grants whose values fluctuated with Yahoo's stock price. In 2005, his salary remained at $600,000, supplemented by options valued at approximately $52.9 million upon exercise. For 2006, amid scrutiny, Yahoo reduced his base salary to $1 while granting at least 6 million stock options; total reported compensation reached $39.8 million, predominantly from equity awards, marking a 52% decline from 2005 levels. Over his six-year tenure ending in 2007, Semel's aggregate compensation totaled roughly $489.6 million, including vested options and other incentives, despite Yahoo's stock lagging competitors like . Shareholder discontent with Semel's pay intensified as Yahoo's eroded and its stock underperformed, prompting accusations of misaligned incentives. At the 2007 annual meeting, investors, including activist Jackson, directly challenged Semel on compensation amid declining performance, with complaints centering on lavish grants like 2006 options valued at $71 million. Independent proxy advisors recommended voting against three board members overseeing pay, highlighting perceived excesses relative to results. Approximately one-third of shares opposed related board re-elections, fueling pressure that contributed to Semel's as CEO on June 18, 2007. This episode underscored tensions between executive rewards and shareholder returns, with critics arguing the structure rewarded tenure over value creation.

Major missed opportunities

During Semel's tenure as Yahoo's CEO from May 2001 to June 2007, the company passed on several acquisitions that would have positioned it to capture emerging markets in search, social networking, and video streaming, ultimately ceding ground to rivals like . One pivotal missed opportunity occurred in 2002, when Semel offered approximately $3 billion to acquire , but negotiations collapsed amid disagreements over valuation and Yahoo's stock price volatility; founders and rejected the bid, preferring independence, which allowed to refine its and advertising model unencumbered. Semel later reflected that acquiring could have transformed Yahoo's competitive landscape, as technology and AdWords system propelled it to surpass Yahoo in by 2004, with capturing 45% of U.S. search traffic compared to Yahoo's declining 30% by 2006. In the social media domain, Yahoo under Semel lowballed an offer to buy in mid-2006 for $1 billion, which dismissed as undervaluing the platform's growth potential; subsequent adjustments to around $800 million due to Yahoo's falling stock price further alienated negotiations, leading Zuckerberg to retain control and enabling to scale to over 12 million users by year's end. This rejection proved costly, as 's user base exploded to 901 million monthly active users by 2012, while Yahoo struggled to innovate beyond its portal-centric model, missing the shift toward social graph-driven engagement. Yahoo also failed to secure YouTube prior to 's $1.65 billion acquisition in October 2006, despite internal awareness of the site's potential; Semel's team prioritized content deals over outright purchase, underestimating user-generated video's disruptive impact on media distribution. By forgoing this, Yahoo ceded the burgeoning online video market, where YouTube amassed 100 million video views daily within months of the deal, exacerbating Yahoo's lag in multimedia innovation rooted in Semel's Hollywood background favoring licensed content over platform . These lapses extended to advertising technology, as Yahoo lost the bidding for in 2007 to for $3.1 billion after Semel's conservative approach failed to outmaneuver competitors; DoubleClick's ad-serving infrastructure became integral to Google's dominance in display and search ads, contributing to Yahoo's share dropping from 20% in 2005 to under 10% by 2008. Collectively, such decisions reflected a strategic conservatism—prioritizing short-term financial discipline over aggressive bets on unproven technologies—which analysts attribute to Semel's entertainment industry lens ill-suited to Silicon Valley's rapid iteration, resulting in Yahoo's stagnating around $40 billion by his resignation while Google's soared past $200 billion. Under Semel's leadership as Yahoo's CEO, the company pursued aggressive expansion into the Chinese market, culminating in a major strategic investment on August 11, 2005, when Yahoo paid $1 billion in cash for a 40% stake in Alibaba.com, China's leading e-commerce platform, while contributing its existing Yahoo China operations to the partnership. This deal aimed to leverage Alibaba's infrastructure for Yahoo-branded services in China, positioning the combined entity as a dominant player against competitors like Google and eBay, and was structured as an exclusive alliance to accelerate growth in the rapidly expanding internet sector. Semel viewed the investment as essential for long-term revenue diversification, emphasizing China's demographic and economic potential despite regulatory hurdles. This engagement, however, drew intense scrutiny for Yahoo's compliance with Chinese government demands, particularly regarding user data disclosure. In April 2005, Yahoo provided Chinese authorities with registration details from the email account of journalist Shi Tao, who had leaked internal Communist Party directives on media coverage of the 1989 anniversary; Tao was subsequently convicted of disclosing state secrets and sentenced to 10 years in prison. publicly accused Yahoo of facilitating the by handing over IP logs and account information without resistance, prompting congressional hearings in the U.S. where Semel testified that the company had no prior knowledge of the investigation's purpose and was bound by local laws to cooperate. Further controversies emerged in 2006 when reported additional instances of Yahoo aiding Chinese authorities, including data provision leading to the detention of dissidents like internet publisher Ning Xianhua, whose private emails were monitored under a purported secret agreement involving Yahoo executives and Chinese officials. Yahoo defended its actions as legally mandated for operating in , with Semel arguing during a February 2006 public forum that withholding services would isolate users from information access altogether, though critics contended this prioritized commercial interests over . These incidents fueled shareholder discontent, exemplified at Yahoo's 2007 annual meeting where investors directly confronted Semel over the Shi Tao betrayal, highlighting tensions between market expansion and ethical compliance. Later lawsuits, such as the 2020 federal case filed by Ning Xianhua against Yahoo (then under Holdings), alleged that Semel and co-founder enabled a "secret pact" with the Chinese regime to monitor and suppress pro-democracy activists, resulting in and ; the suit claimed Yahoo's disclosures during Semel's tenure directly supported these outcomes, though courts dismissed parts on jurisdictional grounds without adjudicating the pact's existence. While Yahoo later established a Fund in 2008 to affected families—including payments to Shi Tao's mother—the fund's administration faced its own disputes, with allegations that only a fraction of resources reached victims, underscoring ongoing fallout from the era's decisions.

Resignation and immediate legacy

On June 18, 2007, Terry Semel resigned as of Yahoo Inc., citing the need for fresh leadership amid mounting shareholder discontent over the company's stagnant performance and his substantial compensation package. In 2006 alone, Semel received a base salary of $1 million alongside stock options valued at approximately $70 million, drawing sharp criticism at Yahoo's annual earlier that month, where investors demanded his ouster due to Yahoo's failure to close the gap with in online search and advertising revenues. Semel's departure was framed by the company as a strategic transition to empower co-founder , who assumed the role of interim CEO, while , previously chief financial officer, was elevated to president to oversee operations. The immediate market reaction was modestly positive, with Yahoo's stock price rising about 3 percent to $28.12 in trading on , 2007, reflecting investor hopes that Yang's return would inject and urgency into the firm. Analysts, however, expressed mixed views: while Semel's exit was welcomed as an acknowledgment of Yahoo's strategic missteps—such as underinvesting in search technology and over-relying on media deals—the appointment of Yang raised concerns about his limited operational experience compared to Semel's industry background. Semel retained his position as chairman until February 1, 2008, when he stepped down entirely from the board, allowing Bostock to assume the chairmanship as Yahoo grappled with ongoing competitive pressures. Semel's immediate legacy at Yahoo was one of transitional controversy, marked by recognition of his role in stabilizing the company post-dot-com bust through acquisitions and content partnerships, yet overshadowed by critiques of his resistance to rapid technological pivots in favor of traditional media strategies. Investors and observers attributed Yahoo's eroding —particularly in search, where dominated with over 60 percent by mid-2007—to Semel's Hollywood-centric approach, which prioritized branded content over algorithmic innovation, ultimately necessitating the leadership shakeup to avert further decline. This shift underscored broader tensions between Silicon Valley's engineering-driven ethos and Semel's deal-making style, influencing Yahoo's subsequent board and strategic reevaluations.

Post-executive activities

Philanthropic endeavors

Semel co-founded the Semel Charitable Foundation with his wife Jane, a private nonprofit established in 1995 that supports educational, medical, and cultural initiatives, primarily in . The foundation has provided grants to organizations including the UCLA Foundation and has been a key vehicle for the couple's giving, with Terry Semel serving as co-chairman and president without compensation. In 2004, Semel and his wife donated $25 million to the UCLA Neuropsychiatric Institute, leading to its renaming as the Jane and Terry Semel Institute for and , which focuses on research into brain disorders, , and behavioral sciences. This endowment supported expanded studies on neuropsychiatric conditions, establishing the institute as one of the largest dedicated facilities of its kind in the United States. The gift reflected Semel's interest in advancing understanding of through empirical research. The Semels continued their support for UCLA with additional contributions, including a 2018 gift to expand the Healthy Campus Initiative, which promotes wellness programs, research, and student health services across the university. Their foundation has also directed funds to medical causes such as the Action Network and cultural efforts including the for education and documentation. Further grants have aided groups like New York Live Arts and industry support organizations such as the .

Board positions and advisory roles

Following his resignation as Yahoo's chairman in January 2008, Semel transitioned to external board roles in arts, media, and entertainment sectors. He was elected co-chairman of the board of trustees of the County Museum of Art (LACMA) in June 2009, serving alongside producer and contributing to initiatives that expanded the museum's collection and physical footprint during a period of significant growth. His tenure as co-chair ended in 2015, after which he was designated Co-Chair Emeritus, a position he continues to hold. In January 2012, Semel joined the board of directors of , a digital platform distributing independent films, while also investing an undisclosed amount in the company as part of a seven-figure funding round. This role aligned with his media industry background, supporting ' expansion across over 100 devices at the time. Semel has also held positions on the boards of the , focused on preserving and presenting television and radio history, with involvement documented as early as 2008. No formal advisory roles beyond these board directorships are publicly detailed in post-Yahoo activities.

Founding of Windsor Media

Terry Semel established Windsor Media Inc. in 1999 immediately after departing , where he had co-led the studio for 24 years as chairman and co-chief executive officer. The firm functioned as a private investment entity specializing in technology and media sectors, offering advisory services on investments to companies and individuals while pursuing venture opportunities in internet-related developments. Semel assumed the role of chairman, leveraging his industry expertise to bridge traditional media with emerging digital technologies during the late 1990s dot-com era. Headquartered in Los Angeles, Windsor Media operated modestly in its initial phase, aligning with Semel's transition from Hollywood executive to tech investor before his recruitment to Yahoo! Inc. in 2001. The company's activities paused during Semel's Yahoo tenure from 2001 to 2007, after which he resuscitated the firm in 2008 upon returning to Los Angeles. This revival incorporated departing Yahoo personnel to bolster operations, refocusing Windsor Media on media-technology intersections amid a recovering investment landscape. Semel directed subsequent investments through the entity, including stakes in startups, until its eventual closure.

Personal life

Family and relationships

Semel married Maryann Soloway in 1966 and they had one son, Scott Semel, born March 15, 1969, before divorcing in 1974. In 1977, Semel married Jane Bovingdon, his second wife, with whom he has three daughters: Courtenay, Lily, and Kate. The marriage has endured over four decades, though it has faced strains from family disputes, including a legal conflict where stepson accused Jane of abusing authority in managing Semel's care during his Alzheimer's progression, prompting a petition that the parties resolved through .

Health challenges and later years

In the early 2010s, Semel was diagnosed with , confirmed in 2011 through a PET scan reviewed by neurologist Dr. in . Symptoms became evident to associates around 2013, manifesting as increased forgetfulness and a disheveled appearance, marking a progressive cognitive decline that rendered him unable to manage personal or financial affairs by approximately 2017. By August 2016, Semel had relocated from his Bel-Air mansion to a two-bedroom suite at the retirement community in Woodland Hills, , a move initiated by his wife, Jane Semel, despite his expressed preference to remain at home. This arrangement sparked a dispute when, in May 2018, his son Semel petitioned for a temporary , alleging that Jane Semel had neglected Terry's care, abused her authority as , and prioritized financial interests over his well-being, including claims of inadequate medical attention and isolation from . The conflict, which highlighted tensions between Eric and his stepmother, was resolved confidentially through negotiations by September 2018, with members agreeing to shared oversight. As of 2019, Semel continued residing at the Woodland Hills facility, exhibiting advanced symptoms of Alzheimer's that left him largely helpless and confined to activities such as sitting in a recliner. He has since withdrawn from public life, with no further detailed updates on his condition available in recent reporting as of 2024, consistent with the disease's irreversible progression.

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  36. https://www.historyoasis.com/post/yahoo-ceo-history
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  38. https://www.cnet.com/tech/tech-industry/shareholders-blast-ceo-semel-for-yahoo-performance/
  39. https://contracts.justia.com/companies/altaba-inc-7920/contract/1141764/
  40. https://www.wsj.com/articles/SB108154605518479081
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  42. https://www.latimes.com/archives/la-xpm-2007-may-01-fi-briefs1.1-story.html
  43. https://www.cio.com/article/259142/consumer-technology-yahoo-ceo-semel-to-receive-1-salary.html
  44. https://www.businessinsider.com/top-paid-tech-execs-2010-7
  45. https://www.nytimes.com/2007/06/12/technology/12iht-yahoo.1.6104215.html
  46. https://www.siliconvalley.com/2007/06/19/2007-semel-out-in-yahoo-shake-up-yang-decker-step-in/
  47. https://dealbook.nytimes.com/2007/06/07/criticism-mounts-over-yahoo-chiefs-pay-package/
  48. https://www.wsj.com/articles/SB118219842638839488
  49. https://www.wired.com/2007/06/tomorrows-share/
  50. https://www.cnet.com/culture/yahoo-ceo-laments-not-buying-google/
  51. https://www.nytimes.com/2006/10/11/technology/11yahoo.html
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  54. https://www.barrons.com/articles/the-view-from-silicon-valley-how-yahoo-missed-the-boat-on-google-facebook-youtube-1522686489
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  57. https://www.businessinsider.com/2008/6/was-yahoo-s-terry-semel-the-worst-internet-ceo-ever-yhoo
  58. https://thestrategystory.com/2020/10/15/yahoo-the-story-of-strategic-mistakes/
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  61. https://www.altaba.com/news-releases/news-release-details/yahoo-and-alibabacom-form-strategic-partnership-china
  62. https://www.cbsnews.com/news/yahoo-sets-its-sights-on-china/
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  64. https://www.hrw.org/reports/2006/china0806/15.htm
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  77. https://www.barrons.com/articles/BL-TB-3623
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  83. https://newsroom.ucla.edu/stories/jane-terry-semel-gift-healthy-campus-initiative-center
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