Verizon CEO Lowell McAdam confirmed the carrier is interested in acquiring at least some of Yahoo's Internet assets, signaling his eagerness to move further into digital media.
As Yahoo's growth prospects continue to stay flat and analysts predict the company may be broken and sold off, Verizon Chairman and CEO Lowell McAdam confirmed that the service provider is taking a hard look at buying the Internet search and online video company-- or at least some of its assets.
Yahoo said it will slash jobs and hone its focus on mobile search and as it continues to overhaul its core Internet business and look for a buyer.
Yahoo plans to keep a tight focus on Mavens, its mobile, video, native and social media initiative, with CEO Marissa Mayer calling it a key monetization strategy. However, the company plans to realign in the wake of a late-2015 scuffle with investors who wanted it to cancel a planned sell-off of its Asia-Pacific assets-- including a layoff of 15 percent of its workforce.
Verizon CFO Fran Shammo declined to say whether the company is considering a purchase of Yahoo, noting that "You can't talk about something that's not up for sale," according to a Reuters article.
Yahoo officially shut down its online video unit, Yahoo Screen, ending an ambitious drive to vault into more direct competition with top OTT providers like Hulu by offering original content and live-streamed sports.
Yahoo will face a class action lawsuit after allegedly sending unsolicited text messages to Sprint users in violation of the Telephone Consumer Protection Act.
Yahoo will no longer look to sell its stake in Alibaba and will instead spin off its Internet business to a newly formed company in a move that could make that business easier to sell.
Go ahead and add AT&T, Comcast, Microsoft, Twitter, Verizon, Alibaba and News Corp. to the ever-growing "short list" of companies that might be interested in acquiring Yahoo's core Internet business.
The Japanese telecom and digital media giant SoftBank is considered a prime candidate as a buyer for Yahoo's core Internet business, according to a report in The Wall Street Journal. Any such deal would likely have a major impact on Sprint, the nation's fourth-largest wireless carrier, which SoftBank acquired in 2013.