New York based branded media giant Time Inc, publisher of over 90 magazines including its namesake, is poised to branch out into digital with the purchase of Yahoo’s search, news and email business.
Reports in Bloomberg suggest that Time is a lead contender for the business after Yahoo chief executive Marissa Meyer formally announced sale of its core activities last week.
Speculation centres on the suggestion that Time may pursue a tax efficient solution in which one of the businesses will merge with a separate spun off entity although it is believed that Mayer herself would play no part in any eventual reorganisation.
Neither party has commented publicly on the reports with other potential suitors remain waiting in the wings to snap up Yahoo’s assets, notably AOL owner Verizon.
Time, in common with all publishers, has seen its print revenues dwindle in recent years forcing it to cast its eyes further afield in pursuit of growth.