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Yahoo! has finally found a billions-slinging buyer for its "assets":
Verizon Communications Inc said Monday it would buy Yahoo Inc's core internet properties for $4.83 billion in cash to expand its digital advertising and media business, in a deal that ends a lengthy sale process for the fading Web pioneer. The purchase of Yahoo's operations will boost Verizon's AOL internet business, which it bought last year for $4.4 billion, and give it access to Yahoo's ad technology tools, BrightRoll and Flurry, and assets such as search, mail and messenger.
The deal, expected to close in early 2017, marks the end of Yahoo as an operating company, leaving it with a 15 percent stake in Chinese e-commerce company Alibaba Group Holding Ltd and a 35.5 percent interest in Yahoo Japan Corp. "The sale of our operating business, which effectively separates our Asian asset equity stakes, is an important step in our plan to unlock shareholder value for Yahoo," Yahoo Chief Executive Marissa Mayer said in a statement on Monday.
Did you know that Verizon owns TechCrunch?
Microsoft executives recalled a previous buyout attempt and breathed a sigh of relief:
In February 2008 Microsoft Corporation made an unsolicited bid to acquire Yahoo for US$44.6 billion. Yahoo formally rejected the bid, claiming that it "substantially undervalues" the company and was not in the interest of its shareholders. Three years later Yahoo had a market capitalization of US$22.24 billion.
martyb: Registered on 1995-01-18, yahoo.com has been around for a long time. Many services were made available on their site such as e-mail, groups, finance. What, if any, of their services have you used? Do you still use them? What are your plans in light of the buyout?
(Score: 0) by Anonymous Coward on Monday July 25 2016, @03:38PM
You seem to be disputing what I said by agreeing with me. Less than 900 million plus a couple of hundred more million is barely breaking a billion.
(Score: 2) by takyon on Monday July 25 2016, @04:25PM
In the year before the last 3 years of Google cash, Mozilla Foundation got just over $100 million from Google.
https://techcrunch.com/2008/08/28/mozilla-extends-lucrative-deal-with-google-for-3-years/ [techcrunch.com]
In previous years stretching as far back as 2004, they made around $50-100 million a year.
So rather than barely breaking a billion, it looks like they made at least $1.2 billion.
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]