Executive summary: Yield managers are disintermediating our access to inventory, inhibiting our overall display strategy. We have product and service gaps against Yield Managers. We have a plan to close those gaps and facilitate inventory flow to AdX (assuming it generates best yield). Some short-term actions will mitigate key risks. Our ask: 1) approval to our plan, 2) help to mitigate the risks. Yield Managers are a growing part of the buys on Invite Media. Yield Managers are persistent on DFP Small Business. A growing percentage of AFC+AdX publishers are working with Yield Managers, too. Premium DFP publishers are working with Yield Managers and networks. 60% of paying DFP publishers are using a third party yield manager of a competitive exchange. More than 75% of DFP pubs maintain direct network relationships.