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 U.S. Internet pioneer to help boost advertising revenues from the Mail's globally popular online news site. Grace Pascoe reports.
Britain's Daily Mail are debating a deal with U.S. internet firm Yahoo. It's early days, but the newspapers publisher Daily Mail and General Trust say they're speaking to potential partners And hope to mount a joint bid for Yahoo's internet assets. (SOUNDBITE) (ENGLISH) SEVEN INVESTMENT MANAGEMENT, CO-FOUNDER, JUSTIN URQUHART STEWART, SAYING: "I suspect the Daily Mail doesn't want to buy the whole of Yahoo, because as one single business it is not seen to be very successful. As a search engine up against the giants it is never going to be able to compete. It is in effect dying. However what they do have is a media base, and that media base with everything that goes with that would be a very useful add-on to what The Daily Mail is already doing." Yahoo is struggling to keep up with the likes of Google and Facebook in winning online advertisers. But its media assets are still tempting. They include Yahoo News, Finance and Sports along with a range of digital magazines. Daily Mail websites attract 14 million visitors per day Making them some of the world's most popular English news sites. (SOUNDBITE) (ENGLISH) SEVEN INVESTMENT MANAGEMENT, CO-FOUNDER, JUSTIN URQUHART STEWART, SAYING: "One of the problems The Daily Mail has got with its online operation is... it is not making any money. The question is therefore can they actually get more assets to put into it which will help them turn that corner, to make sure they move from just being very popular to actually being very profitable." Time Inc and Verizon are also eyeing Yahoo. Bids are due by April the 18th, and the auction is likely to be hotly-contested.