Parent Company of Daily Mail In Discussions For Yahoo Bid

Daily Mail based in Britain is discussing with a few potential partners to launch a joint bid to acquire Yahoo’s internet assets.

It is looking at a plan to buy the troubled Internet pioneer’s assets to help increase its advertising revenues from the globally popular news site online.

The Daily Mail’s parent company in Britain, the Daily Mail and General Trust, on Monday said that it was currently holding early stage talks with a number of parties about the possibility of a bid for Yahoo, which confirmed the report earlier from the Wall Street Journal that it approached buyers of private equity to hook up.

A spokesperson for Daily Mail said the company had spoken to many parties who are possible bidders, but did not provide any names of the private equity companies or give financial details.

MailOnline and DailyMail.com are the news websites that are celebrity focused of the Daily Mail newspaper that is based in London and right leaning.

Globally these websites attract more than 14 million visitors per day putting them amongst the most popular news sites in the world in the English language

Buying assets from Yahoo, which range from email and search to news, sports images and other properties, would expand the reach while improving its digital advertising revenues, which for its financial year of 2015 ended at 73 million pounds, which is just one tenth of the overall annual turnover by the company.

An industry analyst said a Yahoo deal with Daily Mail would be positive for the business helping it to sell more advertising in the U.S. and reduce the dependence it has on shrinking sales of advertising from its British newspaper business.

That would be following a similar but much smaller deal from last year when Daily Mail bought Elite Daily based in the U.S. that is a news and entertainment site in a deal that it indicated it would offer its own offering to advertised buyers in the U.S. more attractive by increasing its over audience.

 

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