By Deborah M. Todd
SAN FRANCISCO (Reuters) - Yahoo Inc (O:YHOO) is exploring the sale of $1 billion to $3 billion (£705.8 million - £2.1 billion) of patents, property and other "non-core assets," its chief financial officer said on Thursday.
Yahoo CFO Ken Goldman told the Morgan Stanley (NYSE:MS) Technology, Media and Telecom Conference that a committee created to explore alternatives to the company's plan to spin off its core business is looking at quick sales of assets.
Goldman said patents, land, property and "non-core units or businesses" are all on the table for potential sale, and the company has sold or licensed more than $600 million in patents over the last three years.
Yahoo faces increasing pressure from shareholders and investors to sell its core business instead of going through a spinoff that would separate the company from its multibillion-dollar stakes in Yahoo Japan and Alibaba Group Holding Ltd (N:BABA).
In recent weeks, media reports have surfaced that Time Inc (N:TIME), Verizon Communications Inc (N:VZ) and several other suitors have emerged as potential buyers.
Goldman did not confirm the reports but said the committee is "aligned to see what best creates shareholder value."