Yahoo CEO paints bright picture with potential sale looming
SAN FRANCISCO (AP) — Yahoo CEO Marissa Mayer tried to hit all the upbeat notes during an annual shareholders meeting as the company considers selling its slumping internet operations.
Various media outlets have reported that Yahoo has received offers exceeding $3 billion for a portfolio of digital services that includes the company's email, news, sports and finance sections.
The bidders include Verizon Communications, a group led by Quicken Loans founder Dan Gilbert, and various private equity firms that specialize in buying struggling companies at discount prices.
In a tacit acknowledgement that her previous turnaround plans had gone awry, Mayer pivoted at the beginning of the year and started to close Yahoo's least profitable services, including a video operation and digital magazines hatched during her reign.