The Verizon Yahoo deal is official. Verizon will acquire Yahoo’s operating business for approximately $4.83 billion in cash.
Verizon is on its way to be different kind of "uncarrier." The mobile phone service company adds Yahoo after it already bought AOL last year. Today Verizon announced to pay approximately $4.83 billion in cash for Yahoo.
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Verizon highlights that Yahoo informs, connects and entertains a global audience of more than 1 billion monthly active users including 600 million monthly active mobile users through its search, communications and digital content products.
“Just over a year ago we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertisers. 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, ” saidLowell McAdam, Verizon Chairman and CEO.
The addition of Yahoo to Verizon and AOL will create one of the largest portfolios of owned and partnered global brands with extensive distribution capabilities. Combined, AOL and Yahoo will have more than 25 brands in its portfolio for continued investment and growth. Yahoo’s key assets include market-leading premium content brands in major categories including finance, news and sports, as well as one of the most popular email services globally with approximately 225 million monthly active users.
Yahoo's CEO Marissa Mayer is staying at Yahoo for the moment. She said about the deal: "Yahoo is a company that has changed the world, and will continue to do so through this combination with Verizon and AOL. The sale of our operating business, which effectively separates our Asian asset equity stakes, is an important step in our plan to unlock shareholder value for Yahoo. This transaction also sets up a great opportunity for Yahoo to build further distribution and accelerate our work in mobile, video, native advertising and social."
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If Yahoo's web properties can thrive under the Verizon ownership remains to be seen. An early player of the internet lost its independance today. July 25, 2016 is one for the history books of the internet.