Daily Mail Online

The parent company of the Daily Mail is considering lodging a takeover bid for troubled online giant Yahoo.

According to the Wall Street Journal, where the news was first reported, Daily Mail and General Trust (DMGT) is in talks with private equity firms in the City about a possible bid.

A spokesperson for the Daily Mail said: "Given the success of DailyMail.com and Elite Daily we have been in discussions with a number of parties who are potential bidders.

"Discussions are at a very early stage and there is no certainty that any transaction will take place."

Yahoo, which is under pressure from shareholders to turnaround the loss-making business, has set a deadline of 18 April for interested parties to submit an official bid.

The Wall Street Journal said there are two possible scenarios in which the Daily Mail could be involved in a takeover. Firstly, it says a private equity firm would take control of Yahoo's web business, with the Mail taking control of its news and media businesses. The other scenario would see the private equity firm acquire the core web business, and merge Yahoo's news and media businesses with the Daily Mail's.

Earlier this year, Yahoo chief executive Marissa Mayer announced plans to cut 15% of the company's entire global workforce as part of her "aggressive turnaround" efforts. The job cuts were prompted by a $4.3 billion loss in 2015.