tomm Posted July 25, 2016 Share Posted July 25, 2016 The deal is expected to be announced formally on Monday before markets open (NEW YORK) — Verizon has agreed to buy online portal Yahoo Inc. for nearly $5 billion, the companies announced Monday. Verizon will acquire Yahoo’s operating business for about $4.83 billion, according to the telecommunications company. The deal “will put Verizon in a highly competitive position as a top global mobile media company” and help accelerate its revenue stream in digital advertising, Verizon Chairman and CEO Lowell McAdam said in a statement. Verizon had emerged in recent days as the front-runner for the beleaguered internet company. Yahoo is expected to sell its email service and news, finance and sports websites in addition to its advertising tools under pressure from shareholders fed up with a downturn in the company’s revenue during the past eight years. The deal is likely to end the four-year reign of Yahoo CEO Marissa Mayer, a former Google executive who flopped in her attempts to turn around the Sunnyvale, California, company. Yahoo has been in a long, deep slump even as advertisers have been pouring more money into what is now a $160 billion market for digital advertising, according to research firm eMarketer. Most of that money has been flowing to internet search leader Google and social networking giant Facebook. They are two of several companies that have eclipsed Yahoo, who slid from an online sensation once valued at $130 billion to a dysfunctional also-ran. Yahoo attempted to buy both companies while in their infancy. After the sale is completed, Yahoo will become a holding company for its two stakes in China’s e-commerce leader, Alibaba Group, and Yahoo Japan, which is where the majority of Yahoo’s market value comes from. Sweet contributed to this story from New York. Liedtke contributed to this story from San Francisco. Source Link to comment Share on other sites More sharing options...
pc71520 Posted July 26, 2016 Share Posted July 26, 2016 Yahoo! will never be what it used to be... Link to comment Share on other sites More sharing options...
alvinblah Posted July 26, 2016 Share Posted July 26, 2016 Wow. Verizon just bought a TON of user data and communication. I find it hard to believe that Verizon sees value in Yahoo beyond all that data in the email communication. Google just got an advertising rival. Link to comment Share on other sites More sharing options...
a4z Posted August 4, 2016 Share Posted August 4, 2016 I'd be surprised if Verizon can turn Yahoo around. The only thing of value at Yahoo is their alibaba shares Link to comment Share on other sites More sharing options...
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