Verizon EVP teases interest in acquiring Yahoo
Telecom giant Verizon has expressed an interest in acquiring Yahoo as the search brand experiences lower-than-expected revenue growth under chief executive Marissa Mayer.
Competition would be tight however however with Yahoo’s core internet service reportedly attracting the attention of IAC, News Corp, Time and more, claims the Wall Street Journal.
Speaking at the UBS conference in New York 7 December, Fran Shammo, executive vice president and chief financial officer of Verizon, simply said on the matter: “If Yahoo is right, we might look at it,” according to a tweet from Bloomberg’s Matt Miller.
*VERIZON CFO SAYS 'IF YAHOO IS RIGHT, WE MIGHT LOOK AT IT'
— matt miller (@mattmiller1973) December 7, 2015
If Verizon were successful in its efforts to acquire Yahoo, it could emulate Comcast-NBCUniversal's joint control of the content and the web services which could increasingly lead to it.
The move comes after Verizon greatly bolstered its ad product by snapping up AOL in May for $4.4bn.