Daily Mail in Talks with PE for Ya­hoo Bid

The Economic Times - - Around The World -

Bri­tain’s Daily Mail is in talks with po­ten­tial part­ners to mount a joint bid for Ya­hoo’s In­ter­net as­sets, eye­ing a plan to buy the trou­bled US In­ter­net pi­o­neer to help boost ad­ver­tis­ing rev­enues from the Mail’s glob­ally pop­u­lar on­line news site. The par­ent com­pany of the British news­pa­per, the Daily Mail & Gen­eral Trust, said on Mon­day that it was in early stage dis­cus­sions with sev­eral par­ties about a pos­si­ble bid for Ya­hoo, con­firm­ing a Wall Street Jour­nal re­port it had ap­proached pri­vate equity buy­ers to team up. “We have been in dis­cus­sions with a num­ber of par­ties who are po­ten­tial bid­ders,” a spokes­woman for Dai­ly­Mail. com said in an emailed state­ment. Dai­ly­Mail.com and MailOn­line are the celebrity-fo­cused news web­sites of t he right-lean­ing Lon­don­based Daily Mail news­pa­per. Glob­ally, the web­sites at­tract 14 mil­lion vis­i­tors a day, putting them among the world’s most pop­u­lar English lan­guage news sites. Buy­ing Ya­hoo’s as­sets — which range from search and email to news, sports, pho­tos and other prop­er­ties — would e x p a n d D a i l y Mai l . c o m’s reach and im­prove its dig­i­tal ad rev­enues, which for its 2015 fi­nan­cial year came in at £73 mil­lion ($104 mil­lion), a tenth of the com­pany’s over­all an­nual turnover.

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