How a $500 million merger between Yahoo and NBCUniversal could end up costing the media giant $600 million
CNBC is reporting that NBCUniversal has reportedly agreed to sell Yahoo for $600.
The deal would allow the two companies to combine for $1.3 billion, according to CNBC’s sources.
Yahoo will remain part of NBCUniversal’s global operations while NBCUniversal will continue to own its television network and websites, the sources said.
CNBC’s source says the deal could be announced as early as next week.
Yahoo’s shares closed Wednesday down 0.6 percent at $62.94, after trading at $60.60 in early morning trading.
CNBC is not naming the two parties as NBCUniversal.
Yahoo reported revenue of $11.7 billion in the first quarter of 2018, up 11.6% from the same period in 2017.
The two companies are both owned by NBCUniversal parent NBCUniversal (NYSE:NWC).
Yahoo has struggled with declining traffic and declining user growth since launching its web portal in 2009.