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Verizon Closes $4.5B Yahoo Acquisition, Marissa Mayer Resigns

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Verizon Closes $4.5B Yahoo Acquisition, Marissa Mayer Resigns

Postby sunnyd » Tue Jun 13, 2017 11:39 am

Story :

Telecom giant Verizon Communications said Tuesday it has completed its acquisition of the operating business of Yahoo for nearly $4.48 billion, with Yahoo CEO Marissa Mayer choosing to resign.

"Given the inherent changes to Marissa Mayer’s role with Yahoo resulting from the closing of the transaction, Mayer has chosen to resign from Yahoo," the company said.

Verizon has combined Yahoo's online assets with its existing AOL business to create a new subsidiary dubbed Oath. Tim Armstrong, former CEO of AOL, is now CEO of Oath, which is part of Verizon’s media and telematics group.

The company called Oath "a diverse house of more than 50 media and technology brands that engages more than a billion people around the world."

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