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Time ‘Pulls out of Yahoo Auction,’ Boosting Verizon

Verizon's attempts to snag Yahoo received a boost after several potential bidders exited the race, The Wall Street Journal reported.

Citing people familiar with the matter, the WSJ reported that rumored suitors including Time, Alphabet, Comcast and AT&T would not submit bids for Yahoo's core assets ahead of Monday's deadline for preliminary offers.

According to the media outlet, Verizon was likely to face competition from private equity companies including Bain Capital, Advent International and TPG.

Disclosure: Comcast owns NBC Universal, the parent company of CNBC and CNBC.com.