Economy

Verizon Closes $4.5B Yahoo Acquisition, Marissa Mayer Resigns

Verizon Closes $4.5B Yahoo Acquisition, Marissa Mayer Resigns

"Given the inherent changes to my role, I'll be leaving the company", Mayer wrote in a post on Tumblr on Tuesday, titled "Nostalgia, Gratitude & Optimism". Marissa Mayer, who had been the CEO of Yahoo, has resigned.

The companies officially closed the US$4.5 billion agreement Tuesday, after Yahoo shareholders approved the deal last week, the companies said.

In Verizon's announcement, Marni Walden, president of Media and Telematics at Verizon, said the transaction represents a "critical step in growing the global scale" that Verizon needs.

Verizon said it has absorbed both Yahoo and AOL, another early internet company it acquired two years ago, into a new subsidiary called Oath.

Trump admits he's being investigated but, shoots his team's narrative?
He should now remove himself from any discussions internally relating to the case and decline to comment on it publicly. Comey did not name the dissenter, but The Washington Post has learned it was FBI General Counsel James Baker.

Armstrong has been leading integration planning teams since the Yahoo transaction was announced last July.

While Verizon purchased Yahoo's operating business, the rest of Yahoo will be re-named "Altaba".

However, in February, Yahoo and Verizon agreed to reduce the price of the acquisition by $350 million in the wake of two massive cyberattacks that exposed more than a billion accounts. "We have been dominating the customer brands in news, finance, sports, tech, lifestyle and entertainment, along with our market leading platforms for advertising technology", he said.

Mr Burnette said Seven West and AOL/Verizon meant to build on any opportunities as Oath's consumer brands and potential acquisitions drive further scale for Yahoo7 in the region.

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North Korea previously issued a "declaration of war" against deforestation, and the country reportedly embraces renewable energy. For diplomatic, environmental, and economic reasons, the US must remain a signatory to the agreement .

Most of Yahoo's board has already tendered its registration and layoffs are expected at the merged entity, As to who keeps their job and who doesn't, remains to be seen.

With AOL and Yahoo, Verizon aims to take on Facebook (FB) and Alphabet's (GOOGL) Google in digital video advertising.

The leftovers, which include Yahoo's holdings in Yahoo Japan and Chinese conglomerate Alibaba are not part of the deal and are now be part of a holding company named Altaba.

According to a Verizon press release, Oath will host more than 50 media and technology brands that range from HuffPost, Yahoo Sport, AOL.com, MAKERS, Tumblr, BUILD Studios, Yahoo finance, and Yahoo Mail among others. She'll walk away with a $23 million package now that Verizon's $4.48 billion acquisition of Yahoo has closed.

Death toll in London tower fire hits 30
Some Grenfell residents had warned months ago that fire safety issues at the tower left it at risk of a "catastrophic" event. Queen Elizabeth II and the Duke of Cambridge visited the area to meet residents and community representatives on Friday.


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