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November 21, 2012

Yahoo Considering $20M Purchase of TV

TV, reportedly, is on Yahoo CEO Marissa Mayer’s radar.

According to AllThingsD, sources have said Yahoo is one of the companies in the running to purchase TV, although the deal is far from finalized.

Lionsgate is in “advanced negotiations” to sell the online entertainment listings, video and news site and mobile app to one strategic bidder for $20 million to as high as $25 million, Deadline Hollywood reported.

Yahoo is still weighing its options to determine what acquisitions would best add to its online media plans.

The purchase of the site, however, could be just what the doctor ordered for Mayer who has big plans to bring the floundering search engine into the future.

Mayer, who took on the CEO position in July, is focusing on devising a comprehensive mobile strategy for the search engine which could mean some purchases to bolster its product line — and TV could be part of that.

As of May, TV had 24 million monthly unique users and more than 6.5M mobile application installations, Lionsgate reported. Lionsgate bought the site and television network in February 2009 for $241.6 million