Verizon Closes Yahoo Acquisition, Launches Oath
Verizon Communications today said it has finalized its purchase of Yahoo. Now that the deal is complete, Verizon is merging its Yahoo and AOL assets into a new media company called Oath. Oath encompasses some 50 brands, including HuffPost, Yahoo Sports, AOL.com, Makers, Tumblr, Build Studios, Yahoo Finance, Yahoo Mail, and many more. Yahoo CEO Marissa Meyer, a former Google exec, has resigned effective today. Yahoo's properties will be managed by Tim Armstrong, who already oversees Verizon's AOL business unit. The $4.8 billion deal was first announced in July 2016. The process suffered a major blow when Yahoo disclosed a material security breach that impacted more than 1 billion users. The two companies later agreed to drop the sale price by $350 million, with the final price tag landing at about $4.48 billion. Marni Walden, executive vice president and president of Product Innovation and New Businesses at Verizon, presided over the acquisition. Armstrong will report to her. The company is expected to shed as many as 2,100 jobs as it integrates AOL and Yahoo's properties. Verizon Communications is the parent company of Verizon Wireless.
Yahoo Adds Gmail Support to Yahoo Mail
Yahoo Mail today gained the ability to manage Gmail and Google Apps accounts. Yahoo relaunched the app in October and made it compatible with AOL, Hotmail, and Outlook.
Verizon to Buy Yahoo's Internet Business for $4.8B
Verizon Communications today said that it has agreed to buy Yahoo's core internet and search businesses for $4.83 billion. Yahoo's properties will join AOL under Verizon's ownership, to be managed by Marni Walden, EVP and President of the Product Innovation and New Businesses organization at Verizon.
Verizon to Pay $350M Less for Yahoo After Privacy Breach
Verizon and Yahoo today said they've amended the terms of their acquisition, first announced in July 2016, which will see the sale price drop by $350 million. The deal has been in jeopardy since December when Yahoo disclosed a material security breach that impacted more than 1 billion users.
Verizon Closes Acquisition of AOL
Verizon Communications today finalized its acquisition of AOL. AOL now exists as a wholly owned subsidiary of Verizon.
Yahoo Improves Search In Mobile Browsers
Yahoo today said it has refreshed how it displays mobile search results in a way that will help people find what they're looking for quicker. Yahoo explains that rather than offer lists of links, the new search presents results — including images, videos, news, and other details — prominently in a way that's more useful.