News

Yahoo appears ready to talk about sale, sends confidentiality agreements

In what could be a signifcant moment for the digital world, Business Insider has indicated that Yahoo, long-insisting they weren’t for sale, may now be in play. According to sources, Yahoo has sent confidentiality agreements to a list of interested buyers. The CTFN report mentioned did not indicate the suitors but media reports have placed Verizon, private-equity firm Bain Capital and KKR on the list.

Yahoo, per the report, would have a traditional auction as opposed to engaging in direct, individual talks with possible buyers.

Verizon is most notable as their CEO, Lowell McAdam, expressed public interest in buying the company. Bloomberg reported that, in early February, AOL CEO Tim Armstrong was going to informally reach out to Yahoo on behalf of Verizon to discuss a possible sale. Verizon is AOL’s parent company.

At that time, McAdam may have tipped his hand to CNBC’s Jim Cramer on Mad Money by saying “We have to understand the trends. But then at the right price, I think marrying up some of their assets with AOL and the leadership would be good.”

We’ll continue to follow and update this emerging story as new news surfaces.

Source: Business Insider

Get the Newsletter

Keep up to date with the latest news and insights.

Subscribe

Doug Zanger

Doug Zanger is the Americas editor for The Drum. He leads the Americas editorial team’s content activity in the growing region. Based in Portland, Oregon, he is committed to sharing the most meaningful stories that benefit the global industry and its people. A Minnesota native, Zanger has covered a wide range of brands, issues and personalities, including Aloe Blacc, Seu Jorge, Wendy Clark, Susan Credle, Dan Wieden, Jeff Goodby and more. Fiercely dedicated to diversity, equality and talent, he has interviewed several women in leadership roles through his Exceptional Women of the World podcast.

All by Doug