Verizon is reported to have bid $3B in meeting a second-round bid deadline to acquire certain Yahoo assets
Verizon Communications has reportedly moved on placing a $3 billion bid to acquire certain assets from Yahoo, following months of deliberations.
Published reports indicate Verizon was set to meet the June 6 deadline for submitting a second-round bid for Yahoo’s core internet business, though it was not interested in the internet firm’s patents or real estate holdings. Yahoo, which currently sports around $35 billion in market capitalization, is expected to hold at least one more round of bidding.
Other entities expected to place a second-round bid for Yahoo assets include private-equity firm TPG. AT&T had been reported as a possible bidder for Yahoo, although it appears the telecom giant has passed on the proceedings.
Yahoo is seen as an asset complementing Verizon’s $4.4 billion AOL acquisition. By combining the two businesses, the telecom operator would increase its bargaining power with advertisers as it works to grow its digital media and mobile video business. Before the AOL acquisition, Verizon bought content delivery network EdgeCast Networks, live video encoder UpLynk, and internet video specialist Intel Media. Earlier this year Verizon said it will buy a stake in AwesomenessTV, a production company partially owned by DreamWorks Animation.
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