Daily Mail tabloid newspaper planning bid for Yahoo: report

Photos of scantily clad celebrities boozing it up on tropical resort balconies could be coming to Yahoo’s home page. Britain’s Daily Mail tabloid newspaper is in talks with investors over a possible purchase of the troubled Internet firm, which is accepting buyers’ bids until April 18.

The Daily Mail, whose bikini- and scandal-sprinkled website attracted nearly 70 million unique U.S. viewers in February, is working with private equity investors on a bid for Yahoo, according to the WSJ. The paper’s report outlined two purchase scenarios. In one, a PE partner buys Yahoo’s U.S. operations and the Daily Mail obtains the news and media properties. In the other, the PE company buys Yahoo and merges its news and media properties into a new firm. Under the latter scenario, the WSJ reported, the Daily Mail would operate the new company and get more equity than with the first option.

A Daily Mail spokesperson had confirmed to the WSJ that the U.K. paper was “in discussions with a number of parties who are potential bidders.” Other sources told the WSJ that the Daily Mail was holding talks with some six PE firms, including General Atlantic, over a possible bid.

In recent months, Yahoo has cut 400 California jobs and shuttered a host of Internet products including seven digital magazines. The firm’s stock has plummeted, to $36.56 at mid-morning Monday from a 2014 10-year high of $52.62. Yahoo has predicted a bleak 2016, with revenue falling 14 percent to $3.5 billion, and earnings dropping 21 percent to $750 million. The firm said it lost $4.36 billion in 2015.

Analyst predictions of the sale price of Yahoo’s core Internet business – not including stakes of about $30 billion in Chinese e-commerce giant Alibaba and $8.5 billion in Yahoo Japan – generally run between $4 billion and $8 billion.

Since Yahoo initiated a sale process in February, analysts have floated names of a number of potential buyers, including Verizon, AT&T, Time Inc., Comcast and Google. The WSJ article said Yahoo had met with Verizon, media and Internet company IAC, and CBS.

 

Photo: Yahoo headquarters in Sunnyvale (LiPo Ching/Bay Area News Group)

 

 

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  • Cheap & Nothing Wasted

    It’s nickname is “The Daily Fail”, due to the innumerable mistakes in it.

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