Yahoo may go for major restructuring: report

Yahoo Inc may make big changes to its media unit, restructuring and consolidating it, including making cuts and pulling the shutters on some efforts, tech news site Re/code said.

The changes could be announced inside Yahoo this week, part of a series of recommendations by consulting company McKinsey & Co, the report said, citing sources close to the situation.

The move is seen as rejection of chief executive Marissa Mayer's plan to sell the $30 billion Alibaba stake and to revive Yahoo's core internet unit focusing on growing mobile, video and social media ads. Yahoo was not immediately available for comment.

Yahoo's board members are yet to decide whether to sell the company's core business, which includes Mail, its sports sites, and advertising technology.

The company, which was also in the process of deciding whether to continue with the spinoff of its $30 billion stake in Chinese e-commerce company Alibaba Group Holdings Ltd, is reported to have abandoned plans to spin it off.

CNBC television reported on Tuesday citing unnamed sources that Yahoo had changed its position in light of uncertainly about the possible tax consequences of the transaction - a complex deal in which Yahoo would establish a new entity to hold the Alibaba shares.