US communications giant Verizon is considering a bid for Yahoo, its CEO has revealed.
Speaking to CNBC, CEO Lowell McAdam confirmed that the company is considering a bid for the embattled internet media pioneer.
When asked if Verizon would consider adding the web portal to its three-tier strategy, McAdams responded : “We have to understand the trends. But then at the right price, I think marrying up some of their assets with AOL and the leadership would be good.”
McAdam’s comments come after a New York Post article last week stated Verizon has made an $8 billion bid for the struggling digital giant. Verizon has already entered into an
agreement to buy AOL for $4.4 billion and it could be looking for more assets in the media space to support its growth ambitions in mobile video and advertising.
Already one of the largest digital publishers, the acquisition of Yahoo would make Verizon the Internet’s biggest publisher by a wide margin.