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Showing posts with the label Verizon

End of an era: Verizon acquires Yahoo in $4.8 billion deal

Yahoo’s 20-plus year tenure as an independent company is no more, with news that it has been acquired by Verizon for $4.83 billion. Word spread over the weekend about the pending deal, but now it’s official. As part of the acquisition, Yahoo will be integrated with AOL under Marni Walden, Verizon’s EVP and president of product innovation and new businesses organization. “Just over a year ago, we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertisers,” said Lowell McAdam, Verizon chairman and CEO, in a press release. “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.” Verizon’s victory The selection of Verizon wasn’t exactly a surprise, as it had always been thepresumptive front-runner in the bid to purchase the once-mighty search engine company. Near the beginning of the year, Yahoo ann