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UK group joins auction

Daily Mail lining up bid for search engine Yahoo

MailonlineThe Daily Mail’s parent company is said to be in talks with several private-equity firms about a possible bid for the global search engine Yahoo.

Yahoo is said to have attracted 40 expressions of interest and has set an 18 April deadline for bids.

Daily Mail & General Trust is thought to be keen on taking over the news and media properties. Alternatively, the merged units could form a new company that would be run by the Mail.

In February, Silicon Valley-based Yahoo closed seven digital magazines including sites dedicated to food, parenting and health.

Google, Time Inc and Verizon are also said to be among the interested bidders.

The firm revealed at its fourth quarter statement that it was implementing an aggressive strategic plan to simplify itself in a move to make it more enticing to potential buyers.

It meant 15% of its workforce was let go, equal to 9,000 employees.

 

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