Yahoo exploring sale of billions in ‘non-core assets’, says CFO

Yahoo is exploring the sale of $1bn to $3bn of patents, property and other “non-core assets”, its chief financial officer said on Thursday.

Yahoo CFO Ken Goldman told the 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.

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 $600m 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.

In recent weeks, media reports have surfaced that Time Inc, Verizon Communications 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”.

comments powered by Disqus