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Yahoo may fetch Daily Mail takeover bid

The UK newspaper is the latest potential suitor for Yahoo's Web business. Preliminary takeover offers kick off next week.

Yahoo's latest potential suitor is a UK newspaper.
Richard Nieva/CNET

A lonely old-media company sets eyes upon a lovelorn old Web media company. Will they swipe right?

The UK-based Daily Mail newspaper said Monday it's in initial talks with other investors to launch a takeover bid for Yahoo, The Wall Street Journal reported.

The Daily Mail joins a long list of media and tech firms reportedly contemplating a purchase of Yahoo's core Web properties -- or at least some of them. Those core properties include Yahoo's email, website, and online advertising technology.

Yahoo asked potential buyers last month to prepare takeover bids. It will start accepting preliminary bids April 18.

Once an Internet powerhouse, Yahoo has been trying to resuscitate its flagging businesses. CEO Marissa Mayer has taken various steps to revive the company, including sharpening its focus on mobile sites and services. But the efforts have failed to thrill consumers and shareholders.

Yahoo has reportedly spoken with Verizon, IAC/InterActiveCorp and CBS (which owns CNET), among other possible suitors, a person familiar with the situation told the Journal. Google parent company Alphabet is also considering an offer, Bloomberg said Thursday. Verizon, which owns AOL, is considered a top contender, as it could also purchase Yahoo's stake in Yahoo Japan, worth about $8.5 billion.

The Daily Mail is weighing two possible options, people familiar with the matter told the Journal. In one scenario, a private-equity partner would buy Yahoo's entire US business, while the Mail would take control of Yahoo's news and media operations. In another scenario, the private-equity partner would purchase Yahoo and combine the media and news operations with the Daily Mail's Web business into a new company that the Mail would run.

A spokeswoman for Yahoo said the company has nothing to share on the Daily Mail report.