In the midst of exploring a sale, Yahoo has still found time to make acquisitions and continue to build its news site.
Yesterday, the company announced that it’s buying advertising and technology firm Interclick for about $270 million. Under the terms of the deal, Yahoo will commence an all cash tender offer for outstanding shares of Interclick at $9 each. The companies said that they expect the tender offer to close by early 2012, subject to customary terms and conditions.
In a statement, Ross Levinsohn, Yahoo’s executive vice president in the Americas, said, “This investment underscores our focus on enhancing the performance of both our guaranteed and non-guaranteed display business across Yahoo and our partner sites and, combined with Yahoo!’s reach and advertising leadership, will deliver a powerful solution for marketers.”
Yahoo News also made its own acquisition, by way of a new Washington bureau chief. David Chalian, who is currently the political editor at “PBS Newshour,” will take over the head D.C. role at Yahoo on November 14. According to Yahoo’s The Cutline, Chalian’s hiring is part of the news site’s “renewed focus” on original content and political coverage of the 2012 election.
Meanwhile, Yahoo is still considering its options for a sale. Sources told the Wall Street Journal that the company has begun pitching private-equity firms on an arrangement called a “leveraged recapitalization” that would allow them to buy a 20 percent minority stake in Yahoo while essentially gaining control of the company.
In this scenario, the fate of Yahoo’s valuable Asian assets is unclear. Some sources said that the company would probably keep its stakes in Alibaba and Yahoo Japan in the case of a leveraged recapitalization, while others said that Yahoo would still want to sell them.