Verizon Confirms Yahoo (YHOO) Bid Rumors

After denying recent rumors that the telecom giant is not in the running to bid on Yahoo’s (YHOO) core business, Verizon (VZ) chairman and CEO Lowell McAdam confirmed to CNBC’s Jim Cramer on Friday that the company is considering a bid for Yahoo.

When asked if Verizon would consider adding the web portal to its three-tier strategy, McAdams responded : “We have to understand the trends. But then at the right price, I think marrying up some of their assets with AOL and the leadership would be good.”

Starts at the 4 minute mark

McAdam’s comments come after a New York Post article last week stated Verizon has made an $8 billion bid for the struggling digital giant. Verizon has already entered into an agreement to buy AOL for $4.4 billion and it could be looking for more assets in the media space to support its growth ambitions in mobile video and advertising.

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