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Verizon could look to buy Yahoo’s Internet business, says CFO

  • Verizon
    Communications Inc’s Chief Financial Officer Fran Shammo said the US wireless
    carrier could look at buying Yahoo Inc’s core business, which includes Mail,
    its news and sports sites and advertising technology, if it is a good fit.
  •  
  • “If we see there
    is a strategic fit and it makes sense for our shareholders and we can return

    • Verizon
      Communications Inc’s Chief Financial Officer Fran Shammo said the US wireless
      carrier could look at buying Yahoo Inc’s core business, which includes Mail,
      its news and sports sites and advertising technology, if it is a good fit.
    •  
    • “If we see there
      is a strategic fit and it makes sense for our shareholders and we can return
      value, I mean we’ll look at it, but at this point it’s way too premature to
      talk about that one,” Reuters quoted Shammo as saying.
    •  
    • Verizon’s Shammo was
      speaking at the UBS annual global media and communications conference in New York.
    •  
    • Yahoo’s “board
      and investors have not decided what they’re going to do with that asset,”
      Shammo said. “I think right now they are trying to figure out exactly what
      they are going to do.”
    •  
    • Earlier this year,
      Verizon bought AOL in a $4.4 billion deal to push into targeted advertising and
      mobile video. In October, it launched an ad-supported mobile video streaming
      service go90 targeted at millennials to tap new revenue.
    •  
    • Yahoo’s board met on
      Friday in the third and final day of meetings to consider various options for the
      company, including selling its struggling Internet business, the
      Reuters report said.
    •  
    • The company’s search
      and display ad businesses, which account for the lion’s share of its total
      revenue, have been struggling, and Chief Executive Marissa Mayer’s efforts to
      revive the businesses have yielded little results.

     

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