Verizon emerges as front-runner in Yahoo auction

The deal would include real estate but not the company's intellectual property portfolio, according to reports.

Sources close to the deal say that Verizon could pay around $5 billion to purchase Yahoo's core business, which would essentially disqualify other interested buyers.

The deal will include Yahoo's core internet business, and doesn't include the Internet media company's patents at this stage.

By 2008, Yahoo was fending off a contentious takeover bid from Microsoft Corp (MSFT.O) and struggling to define its mission.

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AT&T Inc. and Quicken Loans Inc. founder Dan Gilbert along with TPG were in the final round of bidding as well as Advent International Corp. and a partnership of Sycamore Partners and Vector Capital Management. He highlighted how Verizon bought AOL for $4.4 billion for its advertising technology, emphasizing that "AOL has brought a lot of viewership to the platform". The telecommunications company also owns AOL, which it purchased in May 2015 for $4.4 billion. While some observers originally figured that Yahoo could fetch as much as $10 billion for its core business - which excludes its stake in Alibaba and Yahoo Japan - bids so far came in below that, according to observers. It is slightly more than Verizon paid.

Verizon has always been the favorites to win out in the bidding, partially because it is well position to put Yahoo's assets to work. As a result, a handful of bidders have been reportedly been whittled down to just Verizon.

Following the news, Yahoo stocks, which have already gained around 18 percent this year, jumped up by another 0.9 percent to reach $39.21.

Mayer, who joined Yahoo four years ago, has failed to spark a turnaround at the Sunnyvale, California-based company, with sales showing little growth and adjusted earnings on the decline. We will keep you updated if there is any word from Yahoo or Verizon or anyone else regarding the deal. Keep in mind, however, that nothing is set in stone, and we may never see a deal happen between the two companies regardless of how close an agreement may seem.

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