21st Apr 2016 05:22
LONDON (Alliance News) - Daily Mail & General Trust PLC, which owns the Daily Mail and several other publications, said Wednesday that it has not submitted a bid to purchase Yahoo! Inc and, remains in discussions with parties who may potentially be interested in Yahoo!.
Last week, the Wall Street Journal reported that the parent company of the Daily Mail was in talks with several private-equity firms about a possible bid for Yahoo.
While as many as 40 firms have expressed some interest in Yahoo's businesses, the pool of serious bidders is expected to narrow considerably.
The report had indicated that Daily Mail & General Trust potential bid could take one of two forms. In one scenario, a private-equity partner would aim to acquire the entirety of Yahoo's core web business, with the Mail taking over the news and media properties.
Those assets include verticals such as Yahoo Finance and Yahoo Sports plus Yahoo News and a video operation whose big star is Katie Couric. Yahoo has been retrenching in those businesses. In February the company closed seven digital magazines including sites dedicated to food, parenting and health.
In the other scenario, the private-equity firm would acquire Yahoo's core web business and merge its media and news properties with the Mail's online operations. The merged units would form a new company that would be run by the Mail and give a larger equity stake to the Mail's parent company than under the first scenario, the Journal reported.
Copyright RTT News/dpa-AFX
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