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The Daily Mail & General Trust PLC, owner of the British tabloid, has entered into discussions to finance a takeover bid for Yahoo’s online media platform.
If true, DMGT joins a field of some 40 bidders who have expressed interest in buying the once-great tech giant, including US telecoms company Verizon and media companies IAC (InterActiveCorp) and CBS.
A possible takeover of Yahoo could see the company’s assets split, people familiar with the situation told the WSJ.
A private equity partner may take over all of Yahoo’s US operations, while DMGT could buy out Yahoo’s news and media brands.
Those media brands include the likes of Yahoo News, Finance and Sport, as well as its photography platform Flickr and blogging service Tumblr, among others.
“Given the success of DailyMail.com and Elite Daily, we have been in discussions with a number of parties who are potential bidders. Further updates will be provided as appropriate,” a spokesperson for DailyMail.com told the WSJ.
Potential buyers will have until 18 April to submit formal bids. Other bidders reportedly include Google, Time Inc and Microsoft.
Microsoft, which made a bid for Yahoo in 2008, has been named as one of the potential bidders, but Bloomberg claimed it is not making an offer this time.
Yahoo, once an early competitor in the internet search market, has experienced rough times, changing CEOs and pivoting its business strategy.
It announced a loss of $4.4 billion in February, when it announced cuts of 1,700 jobs from its workforce.
Creative Intellect UK analyst Clive Howard told Cloud Pro that Yahoo is “in a constant state of chaos” after the tech giant decided to spin off its core web services and hold onto a multi-billion dollar share in Alibaba.
Agencies/Canadajournal
