Yahoo is exploring the sale of up to $3bn worth of patents, property and other non-core assets.
The company’s CFO Ken Goldman said that a committee created to identify alternatives to spin off its core business is looking at quick sales of assets.
Goldman said patents, land, property and non-core units or businesses are being considered for possible disposal, Reuters reported.
Yahoo sold or licensed over $600m in patents in the past three years.
The announcement follows increasing pressure from Yahoo’s shareholders and investors to sell its core business, rather than undertaking a spinoff that will separate the company from its stakes in Yahoo Japan and Alibaba Group.
Recent reports have revealed that Time, Verizon Communications and several other firms have emerged as potential buyers.
Goldman did not confirm the reports but said the committee is aligned to see what best creates shareholder value.
Last month, Yahoo unveiled plans to close seven of its digital magazines and axe more jobs in efforts to cut costs.
The company has been struggling to revive its core online advertising business. Some shareholders allege that the efforts taken by its CEO Marissa Mayer to restore the businesses has not been able to yield better results.
The company reported a $4.4bn loss, or $4.70 per share, for the fourth quarter ending 31 December 2015, compared to a net income of $166m, or $0.17 per share, for the same period in 2014.
Revenue for the quarter increased slightly to $1.27bn from $1.25bn last year.
Under its strategic plan, the company intends to accelerate transformation and enhance consumer as well as advertiser product quality.
The company is closing offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan. Yahoo expects its workforce to be down to around 9,000 and have less than 1,000 contractors by the end of this year.
Earlier this year, Yahoo’s activist shareholder Starboard Value wrote a letter to the the company’s board of directors calling for a change in management without mentioning any specific names.
Mayer is due to meet with Starboard next week, which owns around 0.75% of Yahoo shares.
Other investor SpringOwl Asset Management urged Yahoo to look for outside investments from strategic partners to improve the stock value.
