Yahoo! Considers Selling Development Site In Santa Clara, California

(RTTNews) - Yahoo! Inc. (YHOO) is considering selling a development site in Santa Clara, California.

The move comes as Yahoo struggles to find a strategy to return the company to growth. Earlier this month Yahoo scrapped plans to spin off its valuable stake in Alibaba Group Holding Ltd., and is now considering bundling the rest of its assets into a separate company.

Yahoo owns about 50 acres in the city of Santa Clara with entitlements to build about 3 million square feet of office space.

Selling the land, which Yahoo bought for $106 million in 2006, could be seen as a good first step to raise cash, though falls short of calls for Yahoo to reduce its workforce and downsize its nearby corporate campus.