According to Bloomberg, interested parties for Yahoo's core business include Verizon, Comcast, and AT&T, as well as buyout firms including Bain Capital Partners, KKR & Co. and TPG.
Even with talks beginning so soon, the potential first-round bids for Yahoo are unlikely to come in until sometime in March.
Yahoo is currently restructuring and shutting down various properties to improve focus. The strategic review committee is working with Goldman Sachs & Co. Inc., J.P. Morgan and PJT Partners as its financial advisors for a sale.
According to CEO Marissa Mayer, the plan is to work on strategic alternatives at the same time it carries out its turnaround plan. Earlier this week, the company saw heavy layoffs in its media departments.
The Yahoo deal could be similar to when Verizon bought AOL -- a content and advertising model close to Yahoo's.