Peter Chernin: Yahoo Situation Is too Confusing for a Bid

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While he doesn't rule out anything, he says that "it doesn't seem like the right place for investment."

NEW YORK - Former News Corp. top executive Peter Chernin has looked at a possible acquisition of Yahoo, but feels this is not the best time to acquire it, Dow Jones Newswires reported.

The founder of the Chernin Group and Chernin Entertainment, and former president and COO of Rupert Murdoch's News Corp., said Friday that he isn't ruling out anything when it comes to a deal to buy Yahoo, but this may not be the right time, according to the report.

"I spent a fair amount of time looking at it a year seems like such a confusing situation that it doesn't seem like the right place for investment," Chernin said at Asia D, a conference hosted by All Things Digital, Dow Jones reported.

The comments came a day after Alibaba CEO Jack Ma had said he was looking for U.S. partners for a potential bid for Yahoo.

Private equity firm Silver Lake Partners is also working with a Yahoo investor and Microsoft Corp. to put together a possible bid, Dow Jones said.