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The UK publisher of the Daily Mail newspaper is in talks regarding a bid for the struggling US Internet company Yahoo. A spokesman has confirmed discussions are happening, but are “at a very early stage”.
The WSJ reports that the Daily Mail and General Trust (DMGT) was discussing an offer with private equity firms.
Yahoo is under pressure from shareholders to turn itself around. The activist hedge fund investor Starboard Value recently called for the replacement of the entire board at the loss-making company.
The spokesman for Daily Mail said: “Given the success of DailyMail.com and Elite Daily we have been in discussions with a number of parties who are potential bidders. Discussions are at a very early stage and there is no certainty that any transaction will take place.”
Yahoo’s media assets include Yahoo News, Yahoo Finance, Yahoo Sports and a range of digital magazines. The company has set a deadline for April 18th for interested parties to submit their offers. Time Inc is also reported to be weighing a bid together with a private equity firm.