Sunday July 24, 2016

Verizon To Pay $4.8 Billion For Yahoo’s Core Business

Well, it looks like it’s all over for Yahoo. Verizon is buying the company for $4.8 Billion, and the sale should be officially announced tomorrow. Meanwhile, Mrs. Mayer is laughing all the way to bank.

Verizon, one of the nation’s biggest telecommunications companies, plans to combine Yahoo’s operations with AOL, a longtime Yahoo competitor acquired by Verizon last year. The idea is to use Yahoo’s vast array of content and its advertising technology to offer more robust services to Verizon customers and advertisers. Bloomberg first reported the price of the Verizon deal. Marissa Mayer, who was hired as Yahoo’s chief executive four years ago but failed to turn around the company, is not expected to stay after the deal closes. But she is due to receive severance worth about $57 million, according to Equilar, a compensation research firm.