Verizon CFO Says It Is "Premature" to Talk About a Possible Yahoo Deal

Associated Press

Fran Shammo speaks at the UBS Global Media and Communications Conference in New York.

Telecom giant Verizon's CFO Fran Shammo was asked on Monday at the UBS Global Media and Communications Conference in New York about the possible sale of Yahoo's core Internet business.

The online company has held meetings to decide whether to possibly look for a buyer of its core online business.

Asked if Verizon could look at acquiring the business after buying AOL this year, Shammo said: "We look at everything across the spectrum." He added: "If we see there is a strategic fit and it makes sense for our shareholders and we can return value ... we'll look at it." He concluded: "But at this point, it is way too premature to talk about [Yahoo]."

Verizon operates the FiOS TV service, which competes with cable and satellite TV providers. It also acquired online giant AOL for $4.4 billion this year and launched Go90 mobile video service as a next-generation video offer targeting millennials. AwesomenessTV, Vice and Endemol Beyond USA were among its early partners providing original content.

The new year will be about monetizing Go90 via monthly subscriptions, pay-per-view offers and other models, Shammo said.

The big year-end investor conference features the CEOs and other top executives from big industry players. It is widely seen as the final event of the year where big-name executives provide an outlook for the new year and sound off on hot-button issues.

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