Yahoo! owns email, search, and news sites - as well as the popular social blogging site - and has been under pressure from investors to improve.
The Mail may partner with private equity firms to finance the deal and might bid for all or part of Yahoo!'s operation, the Wall Street Journal reported.
But a quick look at Tumblr shows the Mail's potential ownership of the blogging site might be a bit awkward, IRL, given these scathing posts...
Ridiculous DM Headlines documents the most outlandish Mail Online stories.
Pointless Letters, meanwhile, includes many examples of the weird and wonderful opines of Daily Mail readers.
And users can be savage in their assessment of The Daily Mail. This post critical of the DM went viral on the site in 2014.
The Daily Mail is not the only firm interested in the search giant, the Journal reported.
Verizon, which is The Huffington Post's ultimate owner through net firm AOL, is thought to be considered a front-runner in the sale process.
Yahoo! says it wants to receive offers by 18 April.