The two companies made a public announcement yesterday, Verizon wants to buy Yahoo
for $4.8 Billion and merge it with AOL
that it also bought last years. Just after a woman by name Marissa Mayer was appointed the CEO and President of Yahoo, the company has been struggling and fighting to get back to its place of glory as the number one significant internet symbol.
The $4.8 billion deal will include Yahoo Mail, Flickr, Yahoo search, Fantasy Sports, Ads, Tumblr as well as its contents and mobile activities. The deal will exclude Yahoo Japan and Alibaba and will give the company a new name once it becomes publicly traded investment.
Lowell McAdam being the CEO of Verizon addressed this in an official release saying that buying Yahoo will give Verizon an upper hand as it is the largest wireless company in the US.
These were his words:
Just over a year ago we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertiser, the acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising.
Right now, no one knows if Marissa Mayer will leave after the the sale of Yahoo, but reports claim that she will be staying even though her position hasn’t been disclosed. She earlier wrote in a Yahoo memo
“For me personally, I’m planning to stay. I love Yahoo, and I believe in all of you. It’s important to me to see Yahoo into its next chapter.”
As soon as Yahoo shareholders approve and seal the deal hopefully by next year, Yahoo will be merged and united with AOL.