Yahoo plans to return to public markets, chief executive officer Jim Lanzone told the Financial Times in an interview.
The internet media firm still ranks in the global top five in traffic terms and will be aggressive in pursuing merger and acquisition opportunities, Lanzone said.
Saying the company has had to navigate a challenging time for online spending as advertisers try to gauge skittish consumer sentiment, Lanzone said it is "ready financially."
"The company has a great balance sheet, we're very profitable," Lanzone told the FT, echoing comments he made in February when cutting jobs and restructuring its advertising tech division.
Yahoo was delisted in 2017 after it was acquired by wireless network operator Verizon. In 2021, Verizon sold Yahoo to private equity firm Apollo.
The development came as Yahoo-once-owned Alibaba Group (9988) is reportedly conducting a strategic review of video streaming platforms Youku and Tudou and may inject the assets into Alibaba Pictures (1060) to bolster the business scope of the Hong Kong-listed company, according to Bloomberg.
Mainland tech media outlet 36kr, however, cited the public relations team of Alibaba's entertainment unit as saying that reorganization of the video platforms was not true.
Alibaba had earlier said it was planning a six-way restructuring to juice growth and create a family of standalone leaders in businesses from e-commerce and media to cloud and logistics. The company also surprised the market with a shakeup of its leadership last month, replacing its eight-year veteran chief Daniel Zhang.
In China, Youku competes against Baidu's (9888)'s iQiyi and Tencent (0700).
