Gabelli: Should Yahoo Sell Itself To Verizon?

Mario Gabelli, Gabelli Funds Chairman, would support a Verizon Communications Inc.

acquisition of Yahoo! Inc.

's core internet media and search business, the value investor told on CNBC. "They want to buy a spin-off from Time Warner, it will fit in nicely with that. Nothing wrong with Verizon on betting that part," Gabelli told on CNBC's HalfTime Report. Gabelli, who owns shares of Verizon and Yahoo, said Verizon could likely do a deal to sell off Yahoo Japan. There are reports of more than 40 interested parties, including Verizon, and several analysts feel Verizon is a strong contender as the merger makes sense following Verizon's $4.4 billion acqusition of AOL, Inc.

last year. Read more: http://www.benzinga.com/analyst-ratings/analyst-color/16/04/7819643/is-yahoo-getting-close-to-the-finish-line#ixzz45GIY0su3 Meanwhile, Yahoo has reportedly extended the deadline for outside bids for its core businesses to April 18, according to a report on Re/code. http://recode.net/2016/04/08/yahoo-gives-bidders-another-week-moving-deadline-to-april-18/ Needham's Laura Martin told Benzinga that there are likely two potential reasons for the deadline extension: either more bidders have come to the table or a potential deal may have a more complicated structure than anticipated. Read more: http://www.benzinga.com/analyst-ratings/analyst-color/16/04/7820174/needham-yahoo-bidding-delay-means-there-could-be-more-bu#ixzz45GJEBM63 Shares of Yahoo were up 0.06 percent to $36.19 and Verizon rose 0.7 percent to $52.36.