Verizon Shells Out Billions for Yahoo

owilson on Monday July 25, 2016 at 01:13:40 PM

Verizon Shells Out Billions for Yahoo

Verizon will part with over $4 billion to buy Yahoo, ending the web influencer's run as an independent company.

(CCM) — On Monday, Verizon and Yahoo announced that prolonged bids to purchase the internet giant have come to an end, with Verizon reigning supreme. The deal cost Verizon $4.8 billion, which reports by CNN Money say suggests the declining value of the internet company, despite its 1 billion monthly active users — all of whom will be handed over to Verizon by the deal's close. Verizon, however, will not be entitled to either Yahoo's investments in online retail site Alibaba or Yahoo Japan; some of Yahoo's cash and patents will also be left out of the deal.

Also coming to an end as a result of the acquisition is Yahoo's 21-year long streak as an independent company, during which it managed to dominate a sizable portion of millennium-era internet development. The deal is still awaiting approval by regulators and is expected to become final in the first quarter of 2017. There has been speculation about whether or not Yahoo executives would retain their positions, step into new roles, or exit the operation altogether, but official and definite word on the subject has yet to be shared publicly.

Image: © Jonathan Weiss - Shutterstock.com


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