Daily Mail Owner Considers Buying Some Chunks of Yahoo

By Gary Cutlack on at

Someone at the Daily Mail would appear to know the point of Yahoo these days, as the media company is apparently in the "early stages" of putting together a bid for all -- or just the media parts -- of the dotcom dinosaur.

The report comes via the Wall Street Journal, which says Mail owner DMGT is currently talking to various parties about formalising an offer for the internet business. Yahoo, which has been described as being "troubled" since Google exploded onto the scene and took most of its breakfast away, is currently troubled due to various internal pressures, with shareholders calling for a sale, investment funds asking for the board to be sacked and replaced and employee cuts being made to try to return it to a profit.

A spokesperson for the Daily Mail said: "Given the success of DailyMail.com and Elite Daily we have been in discussions with a number of parties who are potential bidders. Discussions are at a very early stage and there is no certainty that any transaction will take place."

So keep an eye on the Daily Mail web site, as news of any purchase will be hurriedly ripped off from another site and posted within minutes without attribution should a deal to buy Yahoo go ahead. [WSJ via BBC]

Want more updates from Gizmodo UK? Make sure to check out our @GizmodoUK Twitter feed, and our Facebook page.