The Daily Mail is the latest contender for Yahoo's news assets. The news publication firm's parent company is considering putting in a bid for Yahoo. The internet firm has been struggling to stay afloat amid massive job cuts and has shut down several of its departments.
Daily Mail and General Trust (DMGT), which is the news publication firm's parent company, has reportedly been in talks with private equity firms about putting in an offer. DMGT is one among almost 40 companies that are keen on acquiring Yahoo's assets, among whom Verizon also looks to be a serious contender.
According to a Wall Street Journal report, the potential bid may take one of two forms. Either a private equity firm would acquire all of Yahoo's assets with the Daily Mail taking over the news and media properties or Yahoo's web services may be merged with the Mail's online properties and developed into a new company, which then would be run by the Daily Mail.
DMGT has confirmed that it is in talks with other companies interested in bidding for Yahoo, the Guardian reported. "Given the success of dailymail.com and Elite Daily, we have been in discussions with a number of parties who are potential bidders [for Yahoo]," a DMGT spokesman said. "Discussions are at a very early stage and there is no certainty that any transaction will take place."
Yahoo has been grappling to stay in business for quite a while. CEO Marissa Mayer has been under pressure from mounting demands from shareholders like Starboard calling for a mass exodus of Yahoo's entire board. Amid rampant opposition and criticism, Mayer also shut down seven of Yahoo's digital magazines in February, in efforts to revitalise the company's modest growth aspirations.
To the Daily Mail, acquiring Yahoo may have a tremendous effect in increasing its visibility and growth in the US market. The news publication firm's mix of celebrity scandals and news coverage has already gained immense popularity among the US readership since the company launched its US website in 2012.
The deadline for preliminary bids for Yahoo was originally set for 11 April but has been extended by a week to 18 April.
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