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Report: Time Inc. seeking private equity backing for Yahoo bid

Time Inc.is considering seeking a private equity partner to help fund its for Yahoo! Inc.'s core Internet assets, Reuters reported April1, citing people with knowledge of the matter.

The U.S. publishing company reportedly is looking to boost itsdigital presence and held talks with buyout firms before signing a non-disclosureagreement with Yahoo.

Yahoo's Web business is estimated to be worth several billionsof dollars more than Time Inc.'s market capitalization and the latter is hopingthat Yahoo will allow companies to bid as a group after the first-round bids, accordingto the report.

While the publisher has not yet selected any private equity firmas a potential partner, the people said that Time Inc. and its investment bankersare considering Reverse Morris Trust as a possible deal structure, which could potentiallyallow Yahoo to divest assets in a tax-efficient manner.