Verizon Closes Yahoo Acquisition

Verizon Closes Yahoo Acquisition

We're trying to confirm these and other details, but unsurprisingly David Filo, Eddy Hartenstein, Richard Hill, Marissa Mayer, Jane Shaw, Jeffrey Smith and Maynard Webb Jr. have already resigned from Yahoo's board.

"We now turn the page with very significant assets, relatively modest liabilities (excluding deferred taxes), and a boundless commitment to do everything in our power to increase shareholder value consistent with our stated policies", he said. A Verizon spokesperson told Portada that it will be providing updates on the Latin American and U.S. Hispanic strategy soon.

United States wireless operator Verizon Communications has completed its US$4.48 billion acquisition of Yahoo's core business on 13 June 2017, according to a statement on its website. The winds of change means Verizon's acquisition ends Yahoo's 21-year stint as a publicly traded company. On not being awarded the bonus, Ms Mayer said "expressed my desire that my bonus be redistributed to our company's hardworking employees, who contributed so much to Yahoo's success in 2016".

The sale of Yahoo is just one more sign of how the online media and content market continues to consolidate, as large companies are trying to bring together audiences, and advertisers all under one big company, in competition with the continuing growth of Google and Facebook. Yahoo, which was once worth more than $100 billion, is a tech pioneer with content brands in categories such as sports, finance and news.

Читайте также: Kohli wishes Indian hockey team ahead of Pakistan HWL clash

Eleven months after revealing its intent to acquire Yahoo, Verizon on Tuesday announced that it's a done deal.

The new company aims at building future of brands, using trusted content, powerful technology, and differentiated data. However, the Yahoo and AOL consumer brands will remain. Mayer will receive a $23 million severance package, as was reported in an earlier company filing.

Lowell McAdam, Verizon chairman and CEO, said in a statement last year: "Just over a year ago we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertisers". The second, impacting more than one billion accounts, was disclosed in December.

"I'm really sad to see the end of Yahoo as an independent company", says Tapan Bhat, a former senior vice president at Yahoo.

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