According to a report by Bloomberg, Yahoo has several potential suitors interested in its core business. Following pressure from shareholders, and a failed turnaround effort under CEO Marissa Mayer, Yahoo put its core business up for sale and set an April 11 deadline for placing bids.
Since Microsoft, Comcast and AT&T have all dropped out of the bidding, it seems that Verizon and Google are the clear favorites to take over ownership of the struggling Web property, although Google hasn’t stated definitively that it will make an offer, just that it’s “considering” it.
Ever been to a tech festival?
TNW Conference won best European Event 2016 for our festival vibe. See what's in store for 2017.
Google is said to mainly be interested in Yahoo’s core business, while Verizon has shown interest in Yahoo Japan as well.
The report outlines a Verizon plan that would oust Mayer as the head of the company and install AOL CEO Tim Armstrong in the role, with Verizon executive VP Marni Walden assisting the management of the combined entity.
Of course, the new owner of Yahoo could very well be neither of the two frontrunners, as Time Inc. is still evaluating a bid, while private equity firms Bain and TPG are planning to throw their respective hats into the ring as well.