Time, the publisher of Sports Illustrated, People, and Time magazine, is considering a deal to buy the core business of Yahoo, Bloomberg reported, citing people familiar with the matter.
Time has heard a presentation from Citigroup bankers on pursuing a deal with Yahoo, the Bloomberg report said, adding that Citigroup had not been retained by Time.
Yahoo officially launched the sale of its core business, which includes search, mail and news sites, last week.
Canada's largest stock market continues to move up as some of its U.S. counterparts dipped
The Toronto Stock Exchange TSX composite index was up 66.04 points,
about 30 minutes after the opening bell.
The Canadian dollar was at 74.67 cents US, up 0.02 from Thursday's close.