(Reuters) – Verizon Communications Inc earlier this year looked for buyers for Yahoo Finance, one of the most popular internet destinations for financial news and portfolio management tools, three people familiar with the matter told Reuters this week.
FILE PHOTO – A man stands next to the logo of Verizon at the Mobile World Congress in Barcelona, Spain, February 26, 2019. REUTERS/Sergio Perez
While the U.S. wireless carrier never launched an official sales process, it quietly solicited interest in Yahoo Finance even as it was revamping its media division, previously named Oath and recently renamed Verizon Media.
The company ended its search recently, said the sources, who declined to be named because the talks were private.
Yahoo has emerged as the centerpiece of Verizon Media’s plans to rescue the once-dominant collection of internet assets which has been in decline since the late 2000s.
“We do not comment on rumors and speculation,” Verizon Media said in a statement on Thursday. “Yahoo Finance is integral to Verizon Media’s growth strategy. We continue to invest in the expansion of live programming, audio programming and the recently launched Yahoo Finance Premium product.”
Yahoo and AOL are the two large brands within Verizon Media, which also owns news publication HuffPost, technology news sites Techcrunch and Engadget, as well as social media site Tumblr.
Despite the epic erosion of usage and value of Verizon Media’s businesses, Yahoo Finance has remained a bright spot. It was the most visited site in the business and finance news category in May, beating out Forbes and CNBC, and it has attracted