Canyon Capital Advisor sent a letter to Yahoo! Inc. (NASDAQ:YHOO) expressing their discomfort in the way selling of yahoo’s core business is slowly moving. In the letter, Canyon adds that a delay at this stage is unwarranted for despite any available reasons. Canyon has joined Starboard Value LP, another activist pressuring Yahoo to sell its core business. According to FactSet, Research Canyon had a 2.5% stake in Yahoo as of December 31.

In the sent Letter Canyon notes that recent reports indicates numerous expression of interest, though, the company’s lack of engagement has been a frustration to potential buyers. Canyon indicates that it hopes these reports are inaccurate since there are always complexities during any sale process. Canyon also noted that Yahoo should not make any acquisition regardless of the size or how far the valuations of digital media asset fall. This statement seeks to prevent Yahoo from purchasing additional startups as some private companies have stumbled.

Canyon letter adds on pressure to Yahoo amidst growing concern on Wall Street that there is a disconnect between the company’s board and Chief Executive, Marissa Mayer. Yahoo will most probably head to a proxy battle to shake up its board of directors this spring according to Bob Peck, an analyst with SunTrust Robinson Humphrey. He further notes that shareholders are required to deliver a written notice to Yahoo between Feb 25 and March 26 if they want to nominate a potential director. Despite his statement, he notes that currently activists’ shareholders are likely to engage the management and try to reach a settlement. If this does not work, the shareholders might have to wait until latter part of the window to make their announcement.

Yahoo officially launched the sale of its core business on Friday. Despite this start, Starboard is expected to continue with its efforts of nominating directors for the company’s board before the March 26 deadline.

Time Inc (NYSE:TIME) publisher of sports illustrated people and Time magazine has been exploring the possible bid for Yahoo’s core business.