The announcement was made earlier today by the two companies, and there are plans of merging Yahoo with AOL which was acquired last year by Verizon. Yahoo has been struggling for years to retain its position as a significant internet symbol, but the decline seems permanent.Yahoo Mail, Fantasy Sports, Flickr, Yahoo search, Tumblr, ads as well as other content and mobile activities are part of the $4.8 billion deal. Two other shares comprising of Yahoo Japan and Alibaba are excluded but will have a new name when it eventually become a publicly traded investment.
Verizon CEO, Lowell McAdam pointed out in an official release that acquiring Yahoo will be a groundbreaking move for the US largest wireless company:
“ Just over a year ago we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertiser, the acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising.
Regarding whether Yahoo CEO, Marissa Mayer will be staying or not, reports claim that she is not leaving, but her position remains undisclosed. She wrote in a Yahoo memo, “For me personally, I’m planning to stay. I love Yahoo, and I believe in all of you. It’s important to me to see Yahoo into its next chapter.”
Once the deal is approved and sealed by Yahoo shareholders and regulators early next year, Yahoo will be integrated with AOL. Marni Walden, Verizon EVP and President of the Product Innovation and New Businesses organization will head the department.