- American City Business Journals•20 hours ago
After months of speculation, Verizon confirmed on Monday that it will acquire Yahoo’s core internet business and some of the company’s real estate for $4.8 billion. Yahoo CEO Marissa Mayer said in a blog that she plans to remain at Yahoo but the Verizon executive who drove the deal appeared to indicate in interviews with Bloomberg and CNBC on Monday that many decisions like that will unfold over the next six months or so. AOL and Yahoo combined will have more than 25 brands in its portfolio.
- American City Business Journals•21 hours ago
After a weekend of buzz that a deal was imminent, Verizon Communications confirmed on Monday that it plans to acquire the Web assets of Yahoo as part of a $4.83 billion cash transaction that will end the Sunnyville, California-based Internet pioneer’s long reign of independence. It also means that New York City-based Verizon (VZ) will bulk up its media assets, which include AOL, the media company it acquired as part of $4.4 billion deal announced last May. That deal brought titles such as The Huffington Post, TechCrunch and AOL.com into the Verizon fold. In a press release, the company said that the transaction will create “a new rival in mobile media technology,” given Yahoo’s global audience of 1 billion monthly active users, including 600 million monthly active mobile users.
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