Yahoo’s stock price is down more than 3% in pre-market trading following a Wall Street Journal report that bidders for the troubled internet company’s core operations are offering about $3 billion — lower than the analysts’ estimates for as much as $8 billion.

That raises a possibility Yahoo CEO Marissa Mayer will ditch the sale effort and continue her effort to try to revive the declining internet power.

CNBC’s David Faber questioned the Journal‘s report, saying that the prices it cited are lower than the lowest bids that have some in. A lot could change with the next round of offers due in early June.

According to the Journal, offers dropped after Mayer and other executives gave bidders additional information about the company’s expected performance.

Verizon, which bought AOL last year, is believed to be the most eager bidder. Others in the mix include private investment firm TPG Capital; a group with former Yahoo CEO Ross Levinsohn, Bain Capital, and Vista Equity Partners; and Quicken Loans founder Dan Gilbert with investor Warren Buffett.

Yahoo has had little to show since Mayer took charge in 2012, aiming to revive its status as a Silicon Valley icon. She sought to beef up the company with deals including a $1 billion acquisition of Tumblr and $650 million for BrightRoll.

She also built media properties around brand-name talent including Katie Couric and former New York Times consumer electronics critic David Pogue. The company produced longform TV shows including Sin City Saints, Other Space and Season 6 of Community, but in October said it had to take a $42 million write-down on them.

Last month, Yahoo reported that in Q1 it generated a net loss of $99.2 million versus a net gain of $21.2 million in the period last year, on revenues of $1.09 billion, down 11.3%.