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Verizon reportedly bidding for Yahoo

Google is also said to be considering a move for Yahoo, as the struggling Internet giant's list of potential buyers grows.

Yahoo CEO Marissa Mayer has been trying to turn the company around since 2012.
Chris Farina/Corbis

The race to pick the bones of Yahoo is picking up.

Verizon will make a bid to buy up Yahoo's Web business next week, while Alphabet, the parent company of Google, is also "weighing" an offer, Bloomberg reported Thursday.

Verizon is also willing to buy the Internet portal's stake in Yahoo Japan, worth about $8.5 billion, to sweeten the deal, according to the report.

Yahoo's fate has been in question since the company said in February it is willing to sell its Web business. That includes core Internet properties like email and fantasy football, as well as its advertising technology.

Verizon declined to comment. A Google spokeswoman said the company has "nothing to share."

Last year, Verizon paid $4.4 billion to acquire AOL, another fallen giant from the early days of the Web.

Yahoo, which has formed a committee to explore a sale, reiterated that it won't comment until it has news to share.

"The Company does not intend to make any further disclosure regarding these matters until a definitive transaction agreement is reached or a determination has been made that none will be pursued," the company wrote in a filing in February.

Yahoo, a once-mighty Internet pioneer, has been in turnaround mode since before CEO Marissa Mayer took the reins in 2012. She's taken steps to right the ship, including remaking all of Yahoo's sites for smartphones. But the shift hasn't done enough to excite consumers.

Mayer has also tried to make Yahoo a media powerhouse, with splashy moves such as hiring big-name journalists like Katie Couric and reviving the canceled NBC comedy "Community." Still, the company shut down many of its media sites and killed Yahoo Screen, its service for showing original series.

AT&T and Comcast, which had also been rumored to be in the running, have decided against making a bid, the Bloomberg report said. AT&T declined to comment. Comcast didn't immediately return a request for comment.