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Verizon Acquires Yahoo for $4.5Bn 2017-06-13 05:53:13 Post No. 60885432
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Verizon Acquires Yahoo for $4.5Bn 2017-06-13 05:53:13 Post No. 60885432
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It’s now official. After Yahoo shareholder approval last week, Verizon today announced that it has finally closed its acquisition of Yahoo, which it plans to combine with its AOL assets into a subsidiary called Oath, covering some 50 media brands (including TechCrunch) and 1 billion people globally. It will be led by Tim Armstrong, who was the CEO of AOL before this.
As expected, Marissa Mayer, who had been the CEO of Yahoo and recently received a $23 million ‘golden parachute’ for her work there, has resigned.
“Given the inherent changes to Marissa Mayer’s role with Yahoo resulting from the closing of the transaction, Mayer has chosen to resign from Yahoo. Verizon wishes Mayer well in her future endeavors,” Verizon said in a statement. You can find Marissa in her own words here on Tumblr. TLDR: It’s a long list of the achievements made with her at the helm these last five years, and — alas — you will only read of the struggles that Yahoo went through between the lines.
https://marissamayr.tumblr.com/post/161775943139/nostalgia-gratitude-optimism
https://techcrunch.com/2017/06/13/verizon-closes-4-5b-acquisition-of-yahoo-marissa-mayer-resigns-memo/
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>>60885432
>The deal, nevertheless, brings to a close the independent life of one of the oldest and most iconic internet brands, arguably the one that led and set the pace for search — the cornerstone of doing business on the spaghetti-like internet — at least until Google came along and surpassed Yahoo many times over, and led the company into a number of disastrous and costly attempts to redefine itself, ultimately culminating in the sale we have here today.
>The sale of Yahoo is another sign of the massive consolidation that continues to happen in the world of online media and content, as large companies look to bring together multiple audiences for economies of scale to build out stronger advertising businesses in competition with the likes of Google and Facebook.
>“The close of this transaction represents a critical step in growing the global scale needed for our digital media company,” said Marni Walden, Verizon president of Media and Telematics (which will include Oath), in a statement. “The combined set of assets across Verizon and Oath, from VR to AI, 5G to IoT, from content partnerships to originals, will create exciting new ways to captivate audiences across the globe.”
Carriers have been an especially interesting player in this regard, as they are looking to offset declines in their legacy businesses. But don’t cry for Verizon just yet: the company employs 161,000 people and made $126 billion in revenues in 2016, with 113.9 million retail connections in its mobile business.
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>>60885432
>As expected, Marissa Mayer, who had been the CEO of Yahoo and recently received a $23 million ‘golden parachute’ for her work there, has resigned.
So that is why she had a smear campaign against her
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So this is the ultimate death of both AOL and Yahoo.
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>>60885432
there's too much big companies buying each other, its gonna end with monstrous duopolies
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>>60885451
I don't understand this practice
>you made our company lose hundreds of millions if not up to a billion, but here's 23M for your troubles
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>>60885528
Verizon will gimp anything non Yahoo from now on.
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>>60885608
Contracts are a bitch sometimes.
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