Verizon to bid $3 billion for Yahoo’s internet business
“Verizon Communications Inc. on Monday planned to submit a second-round bid of about $3 billion for Yahoo Inc.’s core internet business, said a person familiar with the matter,” Ryan Knutson and Douglas Macmillan report for The Wall Street Journal.
“The telecom company, seen as the leading contender to buy Yahoo, was expected to meet Monday’s deadline for the second round of bids,” Knutson and Macmillan report. “Yahoo is expected to hold at least one more cycle of bidding, and the offers could change by the final round, people familiar with the matter have said.”
“Verizon indicated it isn’t interested in acquiring certain Yahoo assets, such as patents and real estate, as part of the deal, one of the people said. Yahoo said earlier this year it is exploring the sale of non-core assets, including real estate and patents, that could fetch more than $1 billion,” Knutson and Macmillan report. “Verizon, which acquired AOL Inc. last year for $4.4 billion, is seen as having the clearest path to turning around Yahoo. The telecom giant likely would combine Yahoo’s web properties, which together attract more than a billion users a month, with its growing business in online ads.”
MacDailyNews Take: Yahoo CEO Marissa Mayer (photo by Brigitte Lacombe)Mayer took on an impossible job and deserves credit for staying with the thing when it would have been easy to have walked away from the mess she inherited long before this point.
Marissa Mayer would be a wonderful CEO with the right company.
