Under pressure to make progress on its turnaround effort, Yahoo! Inc. (YHOO) has brought in outside firms to advise on strategy. Yahoo's board formed a committee to weigh strategic options, and retained Goldman Sachs & Co. Inc., J.P. Morgan, and PJT Partners Inc. to handle 'outreach to and engagement with potentially interested strategic and financial parties,' the company said Friday. Cravath, Swaine & Moore LLP is providing counsel. The Sunnyvale, Calif., company has already announced plans for a reverse-spin that would separate its Internet businesses and its stake in Yahoo! Japan from its holdings in Alibaba Group Holding Ltd. (BABA). 'Separating our Alibaba stake from Yahoo's operating business is essential to maximizing value for our shareholders,' Mayer said in a press release Friday. 'In addition to the reverse spin, there are strategic alternatives that could help us achieve the separation, while strengthening our business.' Yahoo had already indicated that it is open to examining its remaining assets. In an early-February earnings call, Mayer said the company would sell patents, real estate and other non-essential assets that could be worth more than $1 billion, said that the company would weigh 'other qualified strategic proposals.' The Deal's Senior Reporter Lisa Allen has the details from New York.