Daily Mail Remains In Talks Over Yahoo -- WSJ
April 21 2016 - 3:03AM
Dow Jones News
By Lukas I. Alpert and Tapan Panchal
LONDON -- Daily Mail & General Trust PLC hasn't submitted a
bid to purchase Yahoo and remains in talks with other parties that
are interested in the U.S. Internet giant, the U.K. media group
said Wednesday.
A person familiar with the matter said the Mail is continuing
talks about joining with a private-equity firm that did submit a
bid for Yahoo. Telecom giant Verizon Communications Inc., buyout
firm TPG, and an investor group that includes Bain Capital and
Vista Equity Partners also were among the bidders, people familiar
with the process said.
The Wall Street Journal reported April 10 that a possible bid by
the Mail could take one of two forms. In one scenario, a
private-equity partner would aim to acquire all of Yahoo's U.S.
operation, with the Mail taking over the news and media
properties.
Those assets include verticals such as Yahoo Finance and Yahoo
Sports plus Yahoo News and a video operation whose big star is
Katie Couric. Yahoo has been retrenching in those businesses -- in
February the company closed seven digital magazines, including
sites dedicated to food, parenting and health.
In the second scenario, the private-equity firm would acquire
Yahoo and merge its media and news properties into a new company
that would include the Mail's Web properties, DailyMail.com and
Elite Daily. The Mail would run that business and would get a
larger equity stake than under the first scenario.
Daily Mail & General Trust has been looking to exploit the
increasing popularity of its celebrity-focused website
Dailymail.com in the U.S. DMGT said in its latest full year results
that it was focused on building its U.S. audience "alongside
gaining traction with its U.S. advertiser base."
Although it is most famous for its newspaper and website, most
of the company's revenue is from business publishing and
information activities, such as the risk management product
RMS.
Rory Gallivan contributed to this article.
Write to Lukas I. Alpert at lukas.alpert@wsj.com and Tapan
Panchal at Tapan.Panchal@wsj.com
(END) Dow Jones Newswires
April 21, 2016 02:48 ET (06:48 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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