Verizon Communications Is Set To Purchase Yahoo For $4.8 Billion
The announcement was made earlier today involving the two companies, and there are also plans of integrating Yahoo with AOL, which was acquired last year by Verizon. Also Yahoo has been struggling for some years now to retain its position as a significant internet symbol, but it seems the decline is permanent.
Yahoo Mail, Flicker, Yahoo search, Fantasy Sports, ads as well as other mobile activities and content are also part of the $4.8 billion acquisition deal. Two other separate shares which comprise of Yahoo Japan and Alibaba are excluded, the company is said to have a new name when it has finally become a publicly traded investment.
Verizon CEO, Lowell McAdam also noted out in an official statement that acquiring Yahoo will be a revolutionary 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.
In regards whether Yahoo CEO, Marissa Mayer will be staying or not, some reports claim that she will not be leaving, though her position remains anonymous. She also 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.”
As soon as the deal is approved and sealed by Yahoo shareholders and the regulators early next year, Yahoo will be integrated with AOL. Verizon EVP, Mami Walden and President of the Product Innovation and New Businesses organization will be the head of the department.