Daily Mail is in talks to join a private equity firm to buyout Yahoo.
It was reported at the end of last month that the British newspaper giant Daily Mail is interested in submitting an official bid for the core business and asset of Yahoo Inc. Daily Mail & General Trust Plc said that it has entered talks with a few parties to partner it in the bid for Yahoo core internet and advertising business. The company extended a submission deadline a few times which finally ended April 18. The bid submission was for its media, email, and other web businesses. The US internet giant launched a sale process bowing to pressure from its activist investor Starboard Value.
The moment Yahoo officially launched an auction process for the sale last month it has seen great interest from the likes of Alibaba, AT&T, Time Inc., and Verizon Communications. Furthermore, several private equity firms showed interest as well which included KKR, TPG Capital, and the partnership of Bain Capital with Vista Equity Partners. It was also reported that Microsoft might enter the race to buyout Yahoo as well but it ruled itself out of the race and declined to submit an official bid. The software giant previously launched a mega bid for Yahoo’s business back in 2008 which was snubbed by the company officials.
From the firms that showed interest AT&T, Comcast Corporation, Alphabet Inc. (parent company of Google), and Time Inc. decided to not place an official bid ahead of the submission deadline. The Wall Street Journal reported, “Media giant Time dropped its bid for Yahoo after concluding that the degree of difficulty in righting Yahoo’s fortunes was too great.”
However the British media group made it clear that it would seek the help of a private equity firm to put in a bid in partnership. It submitted an official bid for Yahoo however it is still in talks with a private equity firm to join. Analysts believe that the buyout of core business might benefit Daily Mail as Yahoo’s search engine, email, news, and sports services greatly complement the type of business Daily Mail does as well as its online presence. Hence this would boost the ad revenue which the media group generates from its websites famous worldwide.
The Yahoo stock jumped by 5 percent on Wednesday after it announced its quarterly earnings which came better than expected. The search engine giant easily surpassed the numbers estimated by the analysts at The Street. Investors were satisfied with the results but analysts were not impressed by the performance Yahoo put in..
It was reported at the end of last month that the British newspaper giant Daily Mail is interested in submitting an official bid for the core business and asset of Yahoo Inc. Daily Mail & General Trust Plc said that it has entered talks with a few parties to partner it in the bid for Yahoo core internet and advertising business. The company extended a submission deadline a few times which finally ended April 18. The bid submission was for its media, email, and other web businesses. The US internet giant launched a sale process bowing to pressure from its activist investor Starboard Value.
The moment Yahoo officially launched an auction process for the sale last month it has seen great interest from the likes of Alibaba, AT&T, Time Inc., and Verizon Communications. Furthermore, several private equity firms showed interest as well which included KKR, TPG Capital, and the partnership of Bain Capital with Vista Equity Partners. It was also reported that Microsoft might enter the race to buyout Yahoo as well but it ruled itself out of the race and declined to submit an official bid. The software giant previously launched a mega bid for Yahoo’s business back in 2008 which was snubbed by the company officials.
From the firms that showed interest AT&T, Comcast Corporation, Alphabet Inc. (parent company of Google), and Time Inc. decided to not place an official bid ahead of the submission deadline. The Wall Street Journal reported, “Media giant Time dropped its bid for Yahoo after concluding that the degree of difficulty in righting Yahoo’s fortunes was too great.”
However the British media group made it clear that it would seek the help of a private equity firm to put in a bid in partnership. It submitted an official bid for Yahoo however it is still in talks with a private equity firm to join. Analysts believe that the buyout of core business might benefit Daily Mail as Yahoo’s search engine, email, news, and sports services greatly complement the type of business Daily Mail does as well as its online presence. Hence this would boost the ad revenue which the media group generates from its websites famous worldwide.
The Yahoo stock jumped by 5 percent on Wednesday after it announced its quarterly earnings which came better than expected. The search engine giant easily surpassed the numbers estimated by the analysts at The Street. Investors were satisfied with the results but analysts were not impressed by the performance Yahoo put in..