Yahoo has formed a strategic review committee as the company explores various strategic alternatives such as selling its media business.
The primary role of the committee is to remain independent and engage with bankers on how to separate Yahoo from its Alibaba stake. The committee will also form a process to engage with potential buyers.
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.
According to CEO Marissa Mayer, the plan is to work on strategic alternatives at the same time it carries out its turnaround plan.
Yahoo said it won't disclose anything more until it reaches a deal or decides not to pursue one.