An era in the history of interest is going to end soon. Yahoo is being bought by Verizon for $4.83 billion. This acquisition by Verizon will make its hold more strong in the world of digital media & advertising, which the company is trying to build. This will also bring closure to Yahoo, which has been in troubled water for a long.
The complete terms for the acquisition are not yet known, but this brings closure to one of the most famous and long-running companies in the world of the internet. Keep an eye on these posts for more updates on this news. Verizon is a New York-based US telecom giant.
Update in 2021
The firms announced Monday that Verizon would pay Apollo Global Management $5 billion to purchase its media division. Thanks to the transaction, Verizon can dispose of assets from the defunct online oligarchies of AOL and Yahoo. TechCrunch, Yahoo Finance, and Engadget, online media properties previously owned by Yahoo and AOL, will be sold to Apollo at a significant discount to their previous market value
Verizon will maintain a 10% share in the business, which will now go under Yahoo.
2 Comments on "Verizon Takes On Yahoo"
Lauren Alston
July 26, 2016The news is indeed shocking to me had been very loyal to Yahoo! 120 billion dollar company sold in 4.8 billions. Yahoo baught many companies like Tumblr and did nothing with them to be profitable.
Harry Allen
July 26, 2016Yahoo aquired many companies in past and did nothing with them. The notable products acquisition according to me were Delicious, Jumpcut, Zimbra, Xoopit, Xobni, Cooliris, Astrid, Flickr, Tumblr, Rockmelt. Most of the products are dead, sold to others and lost momentum under Yahoo. Yahoo is a perfect example when you don't know exactly what you wanna do then this happens.