Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Technology

UK tabloid Daily Mail ‘in discussions’ for Yahoo bid

The owner of Britain’s Daily Mail is reportedly in early discussions over a bid for the ailing US internet company Yahoo.

The Wall Street Journal first reported Sunday that the media company is speaking with private equity firms about an offer.

A spokesman for the DailyMail.com said that, given the success of that site and Elite Daily, it has “been in discussions with a number of parties who are potential bidders.” He said the talks are in a very early stage and there is no certainty any transaction will take place.

Yahoo could not immediately be reached for comment.

The company is under intense pressure to revive its revenue growth and activist investor Starboard Value, a big stakeholder, is pushing for a change in leadership.

Earlier this year, Yahoo cut 15 percent of its workforce, 2,200 employees, along with branches of the company that CEO Marissa Mayer deemed unworthy of continued support.

Starboard last month announced its intent to overthrow Mayer and the company board. It is the third attempted coup at Yahoo since 2008, all led by different shareholders frustrated with attempts to turn the company around.

Starboard nominated nine alternative candidates to oppose Mayer and Yahoo’s other directors at the company’s annual shareholder meeting in June.

Yahoo’s business has declined under Mayer even as advertisers pour more money into digital marketing, with most of it flowing to rivals Google and Facebook.

Advertisement. Scroll to continue reading.

Shares of Yahoo have fallen about 30 percent since the end of 2014, increasing pressure on Mayer to take more drastic measures.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...