yah-hoo is getting purchased by Verizon
it's official after a lot of speculation
yahoo has a buyer the largest wireless
carrier in the u.s. Verizon will pay
four point eight three billion dollars
in cash to pick up Yahoo's core internet
business the deal must pass through the
standard closing requirements like
getting approval by yahoo shareholders
and regulatory agencies if everything
goes as planned verizon says yahoo will
be integrated with AOL Marnie Walden EVP
and president of product innovation and
new businesses will lead the combined
unit the acquisition is expected to be
complete in the first quarter of 2017 so
what is Verizon buying exactly the
company is not buying all of Yahoo it's
buying Yahoo's internet business that
includes Yahoo Mail finance sports and
news verizon also will get its hands on
Yahoo's advertising tech putting
together Yahoo with Verizon's other
Holdings would position the company as a
third alternative for digital
advertising with Google and Facebook
being the leaders right now Verizon will
not be purchasing Yahoo's equity in
Chinese e-commerce site Alibaba Yahoo
owned a 15% stake in Alibaba valued at
about 31 billion dollars
Verizon will also not acquire Yahoo's
35.5% interest in Yahoo Japan was
approximately eight billion dollars
what's left of Yahoo will continue to
own those interests but that company
will change its name when the Verizon
deal goes through what about the head
Yahoo Marissa Meyer well she left Google
to become CEO of Yahoo in 2012 she
published an email that she sent out
company-wide
in it Meyer says she is planning to stay
she says she loves Yahoo and believes in
its employees that's it for this tech
news update I'm Aya's Akhtar and you can
stay on top of the biggest stories at
cnet.com slash
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