Yahoo says it has made 'substantial progress' toward a sale

Marissa Mayer has fought the good fight, and now that fight might be ending.

Mayer struck a conciliatory tone in Yahoo's 2016 first-quarter earnings released on Tuesday, saying that the company had been working toward a sale -- and that she is in agreement that this is what should be done.

"In tandem, we made substantial progress towards potential strategic alternatives for Yahoo. Our board, our management team, and I are completely aligned on this top priority for shareholders," she said in the earnings release.

Investors have been turning up the pressure on Mayer to sell Yahoo in the hopes that the company would be able to transfer the value of its sizable holdings in Alibaba and Yahoo Japan without taking a major tax hit. 

As for how the company performed? Well, it's not looking good. Yahoo did better than Wall Street had expected, but that's not saying much. 

This Tweet is currently unavailable. It might be loading or has been removed.

Yahoo reportedly has a handful of serious suitors including Verizon, which has been on something of a digital media buying spree. On Monday, Verizon and Hearst announced the companies had bought Complex Media through a joint venture. It has also been trying to break into mobile video with its go90 platform. 

During the earnings call, Mayer doubled down on her commitment to "strategic alternatives," the arcane business-speak that has been used to describe a possible sale of Yahoo. 

It's a serious shift from Mayer's previous resistance of a sale. 

This Tweet is currently unavailable. It might be loading or has been removed.

Re/code reported that Yahoo is seeing interest from some private equity companies, including one that has a variety of former Yahoo executives as advisors. 

Despite its struggles, Yahoo could still fetch a few billion dollars (Re/code said it could reach $8 billion). Any sale would leave Mayer with a sizable payday. 

Have something to add to this story? Share it in the comments.