Yahoo admits it could sell off its core internet business
Yahoo has opened the door to a sale of its core internet business, as part of a raft of measures aimed at reversing the company’s long-running slump.
The US search firm, which also revealed that it suffered a $4.4bn loss last year, said it would explore “strategic alternatives” for the internet unit alongside its preferred plan of a spin-off.
- In a bid to placate angry investors, who have seen the shares slump more than 44pc from a high of $52.37 in November 2014, Yahoo revealed plans to axe 15pc of its workforce. It aims to have 9,000 employees by the end of the year.
- “This is a strong plan calling for bold shifts in products and in resources. We are extremely proud of the billion dollar plus business we have built in mobile, video, native, and social [Mavens].
- As its core business has struggled, Yahoo has been looking at ways to maximise the performance of its $24bn stake in Chinese internet retailer Alibaba. A spin-off plan developed over most of 2015 was axed in December, prompting Yahoo to look at hiving off its main business instead.
This is difficult for the company as they have to sell in order to make a good profit as their sales are going down etc. They will need to sell it to another company which will help them become better and ensure that the company has better things and making sure that they have something to back up.
http://www.theguardian.com/media/2016/feb/11/time-inc-buys-what-is-left-of-myspace-for-its-user-data
Time Inc buys what is left of MySpace for its user data
Time Inc has acquired what is left of social media pioneer MySpace in a move designed to hoover up user data to help it target digital ads more effectively.The publisher of magazines including Time, People and in the UK, NME and Ideal Home announced in a statement it had acquired Viant, a group of companies that includes advertising network Specific Media, which purchased MySpace for $35m in 2011.
- MySpace was one of the first wave of social networks to emerge at the start of the century. It was acquired in 2005 by Rupert Murdoch’s News Corp for $580m and peaked in December 2008 with 75.9 million monthly unique visitors.
- Time separately on Thursday reported better than expected revenues of $877m, down 2%, for the three months ending December 31. Digital advertising was up 17.2% to $102m but was not enough to offset a 6.6% fall in print and other advertising to $382m.
I think this is good as they have time to buy it and make sure that there is something that they are going to do.If they want to buy whatever is left its good that there is.
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