It appears that Yahoo is attracting quite a veritable gang of potential bidders. According to a report by Bloomberg, Verizon Wireless is purportedly planning to make a bid to acquire Yahoo’s Web division. On top of all that, Alphabet, also known as the parent company of Google, might be making an offer as well.
Apart from showing interest to purchase Yahoo’s Web business, it turns out that the Big Red is also interested in buying Yahoo’s stake in Yahoo Japan. To provide some context, the stake in Yahoo Japan is worth around $8.5 billion, and if Verizon Wireless is really pushing through with its bid, acquiring the Yahoo Japan stake would make for a good topping to its original bid for the Yahoo’s Web division.
It was in February early this year that Yahoo publicly declared its willingness to sell its Web division. This segment of the Internet portal’s once expansive business empire includes core web assets like email and fantasy football, plus Yahoo’s advertising technology and expertise. No wonder then that several potential takers are waiting to pounce.
One of them is the biggest wireless carrier in the United States. Verizon Wireless seem to have acquired a habit of buying former Internet giants. Back in June of last year, the Big Red had officially completed its acquisition of AOL to the tune of $4.4 billion. Could Yahoo be the newest addition to Verizon’s formidable collection?
Ever since Marissa Mayer took over as chief executive officer of the company four years ago, Yahoo has been trying to turn things around. Yahoo once had a very influential Internet presence, but when Google came to the fore as the new star player in the web, Yahoo has since been relegated to the benches.
Mayer, of course, has made some significant progress trying to get Yahoo back on track, including redesigning all of the company’s websites to become mobile friendly. She also hired high profile news personalities like Katie Couric, and even brought back Community, the cancelled NBC hit comedy series, in order to position Yahoo as a media power player. But her efforts were not nearly enough to reverse the slow death of Yahoo’s Web division. Many of Yahoo’s media sites were ultimately discontinued, and even Yahoo Screen, the company’s service that featured original series, was terminated.
Other big names such as AT&T and Comcast were previously rumored to making a bid to purchase Yahoo too, but as reported by Bloomberg, these two companies have apparently decided not to join the bidding.
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