Yahoo exploring sale of $1-3 billion in land, property, patents
Yahoo CFO Ken Goldman said that the company is exploring the sale of $1 billion to $3 billion of patents, property and other “non-core assets, according to Reuters report.
“Morgan Stanley Technology, Media and Telecom Conference that a committee created to explore alternatives to the company’s plan to spin off its core business is looking at quick sales of assets,” said Goldman.
Goldman said patents, land, property and “non-core units or businesses” are all on the table for potential sale, and the company has sold or licensed more than $600 million in patents over the last three years.
Yahoo faces increasing pressure from shareholders and investors to sell its core business instead of going through a spinoff that would separate the company from its multibillion-dollar stakes in Yahoo Japan and Alibaba Group Holding Ltd.
In recent weeks, media reports have surfaced that Time Inc, Verizon Communications Inc and several other suitors have emerged as potential buyers.
Goldman did not confirm the reports but said the committee is “aligned to see what best creates shareholder value.”