Daily Mail In Early Stage Bid Talks For Yahoo
Britain’s Daily Mail media house is learned to be in early talks over a bid for Yahoo. Its spokesman said the discussions are in a very early stage and it is still uncertain whether transaction will take place.
Yahoo is under pressure from investors to revive the revenue model as well as revenue growth. If believed to reports, activist investor Starboard Value is urging for a change in leadership.
The big stakeholder announced last month in June, at the annual shareholder meeting of the company, it intent to overthrow company CEO Marissa Mayer as well as the company board too. It nominated nine alternative candidates to oppose her and other directors.
During the initial weeks of 2016 the Internet giant sacked 1,700 of its employees, which was a cut of 15 percent of the workforce.
The bid is third attempt of Yahoo since 2008 to revive growth. All these have been led by frustrations of different shareholders.
During the days of Mayer the company’s business has declined and even the advertisers have been diverted to rivals Google and Facebook.
Since the end of 2014 the company’s shares dropped about 30 percent. This resulted with increased pressure on Mayer to initiate more drastic measures to revive the revenue growth.
The website of Daily Mail newspaper is among the top 10 most visited across the world. The media house was founded in 1896 by brothers Alfred and Harold Harmsworth. It has lately invested heavily in the Internet.
In the US it is known as DailyMail.com.