But now with Mayer at the helm, analysts say that option is likely off the table.

"I think bringing her in makes it obvious that selling the company isn't what the board has in mind," Olds said. "And I don't think she would have signed up for the job if it entailed taking Yahoo to the chop shop and selling off the parts. I think the only way they could land her was with a challenge that she couldn't get anywhere else - a place where she can prove herself, apart from Google and the vast success she's experienced there."

Sharon Gaudin covers the Internet and Web 2.0, emerging technologies, and desktop and laptop chips for Computerworld. Follow Sharon on Twitter at , on or subscribe to . Her email address is .

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