Companies Must Submit Bids to Buy Troubled Yahoo - NBC Bay Area
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Companies Must Submit Bids to Buy Troubled Yahoo

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    Any company that wants to buy Yahoo, or at least parts of it, should have its bids in Monday. Bob Redell reports. (Published Monday, April 18, 2016)

    Any company that wants to buy Yahoo, or at least parts of it, should have its bids in Monday.

    Dozens of, maybe even as many as 40, companies are said to be interested in the troubled internet company based in Sunnyvale, California, including Verizon Communications, USA Today reported. The telecommunications giant expressed interest in Yahoo's internet business two months before CEO Marissa Mayer and Chairman Maynard Webb made it official that the company would entertain offers for its core businesses including Yahoo Mail, Yahoo Sports, Yahoo Finance and Tumblr, the Wall Street Journals reported.

    Yahoo's business has declined under Mayer even as advertisers pour more money into digital marketing, with most of it flowing to rivals Google and Facebook.

    Shares of Yahoo have fallen about 30 percent since the end of 2014, increasing pressure on Mayer to take more drastic measures.

    Most recently, the parent of British national newspaper the Daily Mail, Daily Mail and General Trust, said it had joined the bidding process.

    Other companies reportedly interested include AT&T, Alibaba, Google, Softbank and Time Inc., according news outlets including the Wall Street Journal and Bloomberg News.

    The potential sale comes after Yahoo abandoned plans for a tax-free spinoff of its stake in Chinese e-commerce giant Alibaba. Yahoo is under intense pressure to revive its revenue growth and activist investor Starboard Value, a big stakeholder, is pushing for a change in leadership.