Daily Mail in Talks with PE for Yahoo Bid
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.