Daily Mail in talks to buy Yahoo

The publisher which owns the Daily Mail has entered talks over a potential buyout of the web company Yahoo, it has emerged.

A spokesman for for Daily Mail and General Trust (DMGT) confirmed this morning that were "in discussions with a number of parties who are potential bidders" in a statement to AP newswire.

He added that talks were at an early stage and no deal has been agreed over the future of the ailing web search engine and publisher.

A deal would offer DMGT greater access to the huge US audience including through its numerous publishing websites such as Yahoo news.

However, Yahoo has struggled to hang on to its audience share in recent years as competitors such as Google, Facebook and Twitter have dominated the market.

The company's CEO Marissa Meyer is under pressure after she failed to stem a drop off in revenues at the company since she took over the role three-and-a half years ago.

Earlier this year Yahoo announced it was laying off 1,700 employees - representing who make up 15 per cent of its workforce - and shutting some offices in an attempt to save 400 million dollars ( £282 million) a year.

Meyer's latest revival plans will also see the group look to sell some of Yahoo's patents, real estate and other assets - including Yahoo Games, Yahoo TV and some of its digital magazines - for up to three billion dollars (£2.1 billion).

Yahoo has set a deadline of 18 April for potential buyers to submit their bids, according to reports.