Johnny Taylor CEO of Rushmore Drive has abruptly announced his resignation effective immediately as CEO of Rushmore Drive. Taylor’s resignation comes off the heels of a sales negotiation with an undisclosed company to buy Rushmore Drive, which was later rejected by IAC executives. In a letter forwarded to Black Web 2.0 Taylor states:

As you all know, I’ve been working around the clock on a deal to sell RushmoreDrive.com to another company interested in the search business. We were very fortunate to have found a buyer who was willing to pay a good price, but IAC was unwilling to accept the terms.

When IAC decided not to accept the offer, I made a decision to leave my position and to take a much overdue break.

We reached out to Rushmore Drive to confirm the position changes, and have yet to receive a response.

Taylor’s departure may have some major implications on the already struggling company. We’ve heard some chatter of other Rushmore Drive employee departures, but have yet to confirm. Something tells me that this is only beginning of the Rushmore Drive saga. We will keep you posted.

**Update**

We hate reporting on speculation, but we thought this was worth sharing. It has come to our attention that Rushmore Drive’s attempted sale might have been to Sahara Media owner of Honey Magazine. We reached out to Sahara Media, who did not confirm nor deny the reports. Without sharing any particulars, a Sahara media spokesperson stated, “Sahara is always looking for potential business.” The representative went on to say that “they do see the potential in Rushmore Drive”.

Though this is not a clear admission of a negotiation, it does prove that Rushmore Drive has peaked some interest. We will report as we get more information.