Verizon is thinking about buying Yahoo, and AOL boss Tim Armstrong is leading talks
AP
The report said Armstrong is reaching out "informally," and will act on behalf of AOL's parent company Verizon, whose CEO Lowell McAdam expressed interest in possibly acquiring Yahoo during CNBC Jim Cramer's "Mad Money" last week.
There haven't been any formal talks at this point between the two companies, but Armstrong is "taking a lead in preliminary discussions," the report added.
Verizon CEO McAdam strongly hinted that his company's interested in a Yahoo deal during Friday's "Mad Money," saying, "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."
Yahoo said during its earnings call last week that it would explore a possible sale of its core internet business, when it said in a statement it would engage in "qualified strategic proposals."
Verizon wasn't immediately available for comment.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- 2024 LS polls pegged as costliest ever, expenditure may touch ₹1.35 lakh crore: Expert
- 10 Best things to do in India for tourists
- 19,000 school job losers likely to be eligible recruits: Bengal SSC
- Groww receives SEBI approval to launch Nifty non-cyclical consumer index fund
- Retired director of MNC loses ₹25 crore to cyber fraudsters who posed as cops, CBI officers