Time Inc exploring bid to acquire Yahoo’s core internet business

Time Inc declined to comment on the Bloomberg report while Yahoo and Citigroup could not immediately be reached for comment. Yahoo sees hundreds of millions of users click through their digital destinations on an annual basis, a number that would certainly benefit Time’s other properties.

Time Inc. C.E.O. Joe Ripp is reportedly very interested in the deal.

Time Inc. appears to be in a deal-making mode. The company this month announced that it will be buying Viant Technology, the owner of MySpace, to get more data to help sell targeted advertising.

Last week Yahoo officially launched the sale of its core business, which includes search, mail and news sites.

Time Inc. would be competing with giants such as Verizon Communications Inc. and AT&T Inc. for Yahoo, putting itself squarely in an underdog role to merge with the business. Marissa Mayer’s head. Mayer has shifted strategy internally, reining in costs and planning to lay off 15 percent of Yahoo’s 11,000 staff members. “We don’t really want the TV assets because we would have to buy more TV assets”.

Time Warner Inc. spun off Time Inc.in 2014.

Time Inc (TIME.N), the publisher of Sports Illustrated, People and Time magazines, has been exploring a bid to acquire the core internet business of Yahoo Inc (YHOO.O) for several weeks, a source familiar with the situation told Reuters on Tuesday.

Citigroup had proposed employing a so-called Reverse Morris Trust transaction, under which a company merges with another one which has been “spun-off”, allowing the deal to be tax-free. Wall Street has not responded favorably to the takeover rumors thus far.