Yahoo Sold to Verizon – US Telecoms Giant

After a long wait of 25 days period of bidding, Verizon had been announced the real owner of Yahoo from now on at a cost of $4.83bn. This acquiring includes Yahoo’s advertising, content, search, mobile activities and so on.  

This largest US telecommunication company by the number of consumer also bought AOL last year for $4.4bn. Verizon Chairman and CEO Lowell Mc Adam said, “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.”

 Yahoo’s stakes in Alibaba and Yahoo Japan aren’t part of the acquisition. These stakes are worth tens of billions of dollars alone. 15 percent stake of Alibaba represented $31.2 billion, and its 34 percent of Yahoo Japan was worth $8.3 billion. Yahoo’s patent portfolio, which is worth around $1 billion, isn’t part of the sale either. Yahoo’s Sunnyvale headquarters are part of the acquisition.

Yahoo will be integrated with AOL, and Verizon EVP and President of the Product Innovation and New Businesses organization Marni Walden is going to lead the process. AOL CEO Tim Armstrong also mentioned that Marissa Mayer’s name was in their mind. Though Mayer clarified the air by saying  “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”. The transaction is expected to close in Q1 of 2017.

Once the deal closes, Verizon wants to merge Yahoo and AOL to form a bigger advertising and media subsidiary. This way, AOL gets more scale and reaches enough internet and mobile users to become an advertising giant reaching hundreds of millions or even billions of people.

Eventually, Verizon wants to compete with Google and Facebook when it comes to advertising. Online advertising is currently dominated by these two Silicon Valley-based companies. Verizon wants to become the third one.

Watch this video here: https://www.youtube.com/watch?v=m1Q69gate7k

Visit our channel on Youtube : https://www.youtube.com/channel/UCenW99AgCXaiyr1xWJ_BpeQ

Visit our Fcebook page : https://www.facebook.com/indianewsenglish

Visit our Tweeter Account:  https://twitter.com/?lang=en

Visit our Google+ Account: https://plus.google.com/u/0/106807657970378852215/posts/p/pub

Visit our Blog: http://indianewsenglish.blogspot.in/

Give your precious remark bellow and don't forget to subscribe.

Thanking You!