BREAKING NEWS: Verizon is acquiring Yahoo, ending the internet pioneer's two-decade run as independent company.

Yahoo has agreed to sell its core assets to telecom giant Verizon for $4.8 billion, ending a 20-year run by the internet pioneer as an independent company, the firms announced Monday.

Verizon chief executive Lowell McAdam said Yahoo would be integrated into its recently acquired AOL unit to create "a top global mobile media company, and help accelerate our revenue stream in digital advertising."

The acquisition, expected to close in early 2017, will exclude Yahoo's cash, certain patent holdings, and its big share in China's Alibaba Group and stake in Yahoo Japan.

The deal will leave Yahoo as a separate investment company that will change its name after the transaction.

Marissa Mayer, CEO of Yahoo, said in a statement: "Yahoo is a company that has changed the world, and will continue to do so through this combination with Verizon and AOL."

She added that the deal separates the core Yahoo business from its Asian asset equity stakes, and "is an important step in our plan to unlock shareholder value for Yahoo."

The deal comes with Yahoo, a onetime leader in the online space, struggling to keep up with rivals like Google and Facebook.

“We have enormous respect for what Yahoo has accomplished: this transaction is about unleashing Yahoo’s full potential, building upon our collective synergies, and strengthening and accelerating that growth,” AOL Inc. Chief Executive Officer Tim Armstrong said Monday in a statement. “Combining Verizon, AOL and Yahoo will create a new powerful competitive rival in mobile media, and an open, scaled alternative offering for advertisers and publishers.”

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Verizon? Are they up to the task

The deal has been done. It's a shame

fredpaul:
The deal has been done. It's a shame

If you don't know what to comment can't you jst pass by. Why would you criticize what you do not understand. Don't u know that the basis of ur criticism should be on your full knowlegde n understanding of the subject matter? Pls be wise!

Some yahoo stakes with huge returns where not acquired

nairabinary:
Some yahoo stakes with huge returns where not acquired

Yes,

Alibaba stakes in yahoo was not acquired so this comes to mind.

However its very funny that i am forced to ask what is really the real worth of Yahoo?

with the much struggle and consistemt change in CEO to revamp and create a much boost.


I so much hate Tech Coy Chairman/Ladies they are Snakes in Sheperds skin, from Nokia to Yahoo, the trend is repeating it self in a systematic chart.

I ask myself not how could a $120 Billion company sold in 2006, now sold at $4.8Billion in 2016; BUT how can the chairman Marrisa takes away 57 Million. She is a crook to me. During her role at Yahoo, she bought many companies like Tumblr and did nothing with them to be profitable to them.

I seem not to get the logic behind handing her such amount. Is thisnow the new trend? become a CEO, make sure the company fails and then expect a big payout in return?

if this is the new trend, i think seun should make me his ceo.

Ymodulus

Ymodulus:


Yes,

Alibaba stakes in yahoo was not acquired so this comes to mind.

However its very funny that i am forced to ask what is really the real worth of Yahoo?

with the much struggle and consistemt change in CEO to revamp and create a much boost.


I so much hate Tech Coy Chairman/Ladies they are Snakes in Sheperds skin, from Nokia to Yahoo, the trend is repeating it self in a systematic chart.

I ask myself not how could a $120 Billion company sold in 2006, now sold at $4.8Billion in 2016; BUT how can the chairman Marrisa takes away 57 Million. She is a crook to me. During her role at Yahoo, she bought many companies like Tumblr and did nothing with them to be profitable to them.

I seem not to get the logic behind handing her such amount. Is thisnow the new trend? become a CEO, make sure the company fails and then expect a big payout in return?

Alibaba has no stake in yahoo. It is the other way round.

Yahoo was founded by Jerry Yang and David Filo. They got messed up because the board failed to learn from "the Apple Story".

When apple dicovered they had made a mistake by sacking its founder, They had to retrace their step and brought back Steve Jobs on board.

Now in the case of Yahoo, Jerry Yang who happens to be the founder and the brain behind Yahoo was sacked, Simply because he refused to sell the company to Microsoft for $44 billion.