Time Inc.’s (NYSE: TIME) small size isn’t stopping it from pursuing an acquisition of Yahoo! Inc.’s (Nasdaq: YHOO) core business. The $1.5 billion owner of magazines including People, Sports Illustrated, Time and Fortune, has heard a presentation from Citigroup Inc. bankers on pursuing a deal to merge with Yahoo, according to people familiar with the matter.
The idea is of real interest to Time Inc. Chief Executive Officer Joe Ripp, said the people, who asked not to be identified because the information is private. Citigroup hasn’t been retained, the people said.