Yahoo's former interim CEO reportedly considering bid for core assets

Yahoo's interim boss replaced by Marissa Mayer is banding with former executives and private equity groups to make a bid for Yahoo's core business.
Written by Jake Smith, Contributor

Ahead of Yahoo's first quarter earnings report Tuesday afternoon, Recode has information on the list of bidders for the struggling company's core business.

The publication reports Yahoo's former interim CEO Ross Levinsohn, who was replaced by current CEO Marissa Mayer in 2012, is teaming with former media exec Ken Fuchs and former ad exec Bill Wise to make a bid for the company in partnership with Bain Capital and Vista Equity Partners.

Vista has a reputation in the industry for heavily slashing a company's costs, something Yahoo has been doing in recent months as it looks to get its head above water.

In 2015, Forbes published a wide-ranging interview with Levinsohn, who said the push for Yahoo to go into mobile started in 2010, and the company wasn't behind like Mayer had previously suggested when she came on board the company from Google.

Past Levinsohn and Co, the front runner for the bidding process is Verizon, which is reportedly looking to juxtapose Yahoo's content alongside its advertising technology -- a similar playbook to its AOL acquisition.

Yahoo's core business is expected to bring $6 billion to $8 billion. The purposed sale comes after pressure to explore options to sell its core assets and cut its workforce from activist hedge fund Starboard and other investors.

The parent company of the Yellow Pages is also considering a bid, alongside TPG who wants the Yahoo advertising technology.

It's not clear if Yahoo will reveal information on bidders during its earnings call on Tuesday. The company is expected to report revenue of $1.1 billion, down year over year.

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