Time Inc considering bid for Yahoo's core business: Report
Time Inc is among the companies considering a deal to merge with Yahoo's core business, according to Bloomberg.
The talks are in the early stages and no specific numbers have been presented.
The report comes after Yahoo put itself up for sale on Friday, forming a special committee for the search.
Time Inc, which owns Time Magazine, People, Sports Illustrated, and Fortune, heard a presentation from Citigroup bankers on a deal with Yahoo but hasn't made any official decisions.
It's not clear how Yahoo's core business, which includes search, mail, and news/content products, will be priced. According to Bloomberg, Yahoo CEO Marissa Mayer will not be part of the deal if a merger with Time occurred.
The deal talks come after Time acquired Myspace's parent company in an early-February deal that gave Time access to more advertising data. A Yahoo deal could give Time, who spun-off from Time Warner Inc in 2014, more content to place advertising against, not to mention access to Yahoo's own advertising tech.
It was reported last week Verizon is also on the list of potential buyers, as it looks for more content to push alongside the company's AOL arm it acquired in 2015