Yahoo is up for sale and potential buyers are coming forward
The Internet portal and search engine is looking for new suitors, after failing to gain profit. And the list of potential buyers is partially out.
Image credit: Engadget
According to the Wall Street Journal, sources familiar with the matter said that a series of board meetings that will be held later this week, and it may determine the fate of Yahoo. An alleged option includes the selling off of Yahoo’s core Internet business.
Currently, Yahoo has a 15 percent stake in Alibaba, which is worth ~US$32 billion (~S$45.15 billion), and a stake in Yahoo Japan is valued at US$8.5 billion (S$12 billion). These businesses will most likely be spun off if the idea of a sale goes through.
But, this is not the first time Yahoo is looking for a buyer. Back in 2008, Microsoft failed to buy Yahoo in a long courtship that saw both companies playing hard to get.
According to finance news site MarketWatch (published by Dow Jones & Co.), a handful of firms have expressed their interest in Yahoo. Among them are Verizon, IAC/InterActive Corp., News Corp. (owner of The Wall Street Journal) and Time Inc. (publisher of Time magazine). Yahoo has not yet commented on their current position.
Only the board members know if Yahoo deserves a second chance. Meanwhile, if you have data stored up in Yahoo or their services, it may a good time to back it up to an external hard disk instead.
Source: MarketWatch, The Wall Street Journal
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