- India-focused OTT production entity Golden Karavan launched
- Woman alleges gang rape by two men in SUV
- Film producer Karim Morani surrenders in rape case
- Ryan school murder case: CBI team reaches school, starts probe
- Karti closed many foreign accounts, shifted money: CBI
- Pakistan shells border posts, hamlets in J&K; BSF jawans among 7 injured
- Sushma Swaraj raises issue of terrorism, H1-B with US Secretary of State
Yahoo to consider selling its core business
MUMBAI: With the turnaround attempts failing to succeed, Yahoo is considering selling its core Internet businesses.
The board may also examine options on what Yahoo should do with its precious stake in Chinese e-commerce giant Alibaba Group Holding Ltd.
On consideration could be a plan to spin off its investment in Alibaba, currently worth more than $30 billion, find a buyer for Yahoo’s gaggle of Web properties, or both, the Wall Street Journal reported. It also has 35 per cent stake in Yahoo Japan, which is worth about $8.5 billion.
Possible suitors for snapping up Yahoo’s core business could be private equity firms.
When Yahoo was a much stronger entity, it was in merger talks with Microsoft Corp. The deal, however, failed to conclude. Last year, talks were on to combine with AOL. However, Verizon Communications raced ahead and acquired AOL for $4.4 billion.
Yahoo chief executive officer Marissa has Mayer has come out with several strategies to revive the company, but profits have been sagging. She has driven Yahoo to invest in online video, advertising technology and mobile software. But none of these have had a meaningful impact.
Yahoo’s services include Yahoo Mail and Yahoo News.