Report: Yahoo Won't Move Forward With Alibaba Spinoff

Chris CrumBusiness

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Over the first week+ of December, there have been numerous rumors about Yahoo. It has been reported (but not officially confirmed) that the company is considering selling its core web business, including search and advertising.

This was the big story last week as board members prepared to meet for discussions. One report named Verizon, IAC/Interactive, News Corp., and Time as parties interested in a potential purchase.

Activist investor Starboard has been calling on Yahoo to put a stop to its plan to spin off its Alibaba stake, which is supposed to happen next month. Starboard wants Yahoo to sell its core web businesses instead.

A new report from CNBC indicates that the company is poised to do just that. Sources on this are not disclosed. The report says:

Yahoo will not move forward with a spin-off of its stake in Alibaba, and instead examine a deal involving its core business, sources told CNBC on Tuesday.

The report comes amid others that suggest Yahoo is working on some additional restructuring including making cuts and closing down some properties in its media business.

Image via Wikimedia Commons

Chris Crum
Chris Crum has been a part of the WebProNews team and the iEntry Network of B2B Publications since 2003. Follow Chris on Twitter, on StumbleUpon, on Pinterest and/or on Google: +Chris Crum.