The meeting was said to be the first since Microsoft made its unsolicited offer for Yahoo, worth nearly $42 billion, on January 31. Yahoo rejected the offer as inadequate last month.
The Journal said the meeting wasn't a negotiation and that no bankers were present.
The session was intended to allow Microsoft to present its vision of a combined company, and Yahoo executives mostly listened, the Journal quoted one of the sources as saying.
Microsoft and Yahoo spokesmen declined to comment.