The latest Yahoo sale news revealed a new suitor for the company’s assets. UK company Daily Mail has expressed their interest in purchasing the Internet giant.
The WSJ reported that Daily Mail announced on Monday that it is currently having discussions with other investors to partake in the Yahoo sale. The publication initially reported about the company’s interest on Sunday.
“Given the success of DailyMail.com and Elite Daily, we have been in discussions with a number of parties who are potential bidders,” a spokesperson for the website said. “Further updates will be provided as appropriate.”
Discussions are still at an early stage, though. It is uncertain whether a deal will be finalized or not.
The Daily Mail is a British newspaper and global tabloid website. Its company, Daily Mail & General Trust PLC is one of the many companies that have expressed their interest with the Yahoo sale.
A source revealed that the Daily Mail has not met up with any of the Yahoo executives yet. It is believed that the company would collaborate with a private-equity partner and be the one to either handle the website’s news and media properties or merge those properties to a totally new company.
Apparently, the Daily Mail has been meeting up with several private-equity firms to help with the financing of the bid. One company was said to be General Atlantic LLC. However, a spokesperson declined to comment on the matter.
According to Vanity Fair , the British company acquired millennial news site Elite Daily last year for about $40 or $50 million. The Daily Mail has also had its fair share of controversy and is notorious for its “inflammatory headlines and thinly sourced stories.”
Previous Yahoo sale news revealed that the company has extended the deadline for its initial bids to Apr. 18. This may mean that a deal could be finalized by June or July this year. Verizon Communications Inc. is believed to be making their first-round bid for the Yahoo sale by next week.