Struggling technology and Internet company Yahoo is looking to shed between $1 billion and $3 billion in “non-core” assets, chief financial officer Ken Goldman said at a Thursday investor conference.
“We are looking at what we call non-core units or businesses to the extent that it makes sense to sell those off,” Goldman said. “We’re looking at all possible combinations of structures that would provide value.”
According to Goldman, the $1 billion to $3 billion in assets on the table also include the company’s patents, land holdings and campus property.
“The core concept is assets that might not be evident, if you will, in terms of core Yahoo that we do get value, and the best way of getting value is in cash,” Goldman continued.
Goldman said Yahoo has already sold or licensed more than $600 million in patents over the last three years.
Earlier this week, news site CTFN reported Yahoo is holding a traditional auction for the sale of these assets and has begun sending non-disclosure agreements to potential buyers.
One party that may be in the running is U.S. wireless carrier Verizon.
After denying and sidestepping its interest in a Yahoo bid, Verizon CEO Lowell McAdam said last month the carrier would consider purchasing some of Yahoo’s assets “at the right price.”
In his comments on CNBC’s “Mad Money,” McAdam said some of the Yahoo assets could prove to be a good match for Verizon’s newly acquired AOL business.
Though Yahoo has not publicly commented on who its other suitors might be, analysts have speculated potential bidders may include AT&T, Comcast and various private equity firms that specialize in snapping up troubled companies.