Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Verizon Takes Over Yahoo To Complete $4.5 Billion Deal
Techlife News
|June 17, 2017
Verizon has taken over Yahoo, completing a $4.5 billion deal that will usher in a new management team to attempt to wring more advertising revenue from one of the internet’s best-known brands.
-
Tuesday’s closure of the sale ends Yahoo’s 21year history as a publicly traded company. It also ends the nearly five-year reign of Yahoo CEO Marissa Mayer, who isn’t joining Verizon. She will walk away from Yahoo with a compensation package currently worth about $125 million, including her severance pay and stock awards that will be fully vested with the deal’s completion.
Yahoo’s email and other digital services such as sports, finance and news will be run by Tim Armstrong, who has been running AOL since Verizon bought that company for $4.4 billion two years ago. Armstrong will now be CEO of a new Verizon subsidiary called Oath, which will consist of Yahoo and various AOL services.
About 2,000 Yahoo and AOL workers are expected to lose their jobs as Verizon trims expenses and eliminates overlapping positions.
“Now that the deal is closed, we are excited to set our focus on being the best company for consumer media, and the best partner to our advertising, content and publisher partners,” Armstrong said.
This story is from the June 17, 2017 edition of Techlife News.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Techlife News
Techlife News
NVIDIA DEVELOPS LOCATION-VERIFICATION TECH AS GOVERNMENTS TIGHTEN CONTROLS ON CHIP MOVEMENT
Nvidia has developed a new location-verification system designed to help authorities confirm where sensitive chips are operated, adding a technical layer that could support global efforts to curb unauthorized transfers and smuggling of advanced processors.
2 mins
December 13, 2025
Techlife News
SPOTIFY EXPANDS MUSIC VIDEO TEST TO USERS IN THE U.S. AND CANADA
Spotify is widening its trial of in-app music videos to users in the United States and Canada, adding two major streaming markets to an experiment that began earlier this year in a handful of countries.
3 mins
December 13, 2025
Techlife News
APPLE SILICON CHIEF JOHNY SROUJI DISMISSES EXIT RUMORS AND REAFFIRMS HIS COMMITMENT TO THE COMPANY
Apple's senior vice president of hardware technologies, Johny Srouji, moved to eliminate speculation about his future at the company, telling employees in a memo that he does not intend to leave and remains fully committed to leading Apple's silicon engineering efforts.
4 mins
December 13, 2025
Techlife News
BMW EVS GAIN ACCESS TO TESLA SUPERCHARGER NETWORK IN THE UNITED STATES
BMW electric vehicles in the United States can now use Tesla’s Supercharger network following a recent rollout of compatibility updates and connector adoption that enable cross-brand charging access.
4 mins
December 13, 2025
Techlife News
FORMER APPLE CO-00 JEFF WILLIAMS NOMINATED TO THE WALT DISNEY COMPANY BOARD AS AN INDEPENDENT DIRECTOR
The Walt Disney Company has nominated former Apple operating-executive Jeff Williams to join its board of directors, marking a significant crossover between leading technology hardware engineering and global media operations.
3 mins
December 13, 2025
Techlife News
IFIXIT LAUNCHES FIXBOT, A CAMERA-ASSISTED CHATBOT BUILT TO GUIDE EVERYDAY TECH REPAIRS
iFixit has introduced a new mobile app designed to bring its extensive library of repair guides into a more accessible, conversational format.
4 mins
December 13, 2025
Techlife News
DISNEY AGREES TO $1 BILLION EQUITY INVESTMENT IN OPENAI AND LICENSING DEAL FOR SORA AI TO USE ICONIC CHARACTERS
The Walt Disney Company said Thursday that it will make a $1 billion equity investment in OpenAI and has reached a licensing agreement that will allow the use of characters from its major entertainment franchises in OpenAI’s generative artificial intelligence tools, including the Sora video generator and ChatGPT image features.
3 mins
December 13, 2025
Techlife News
INSTAGRAM TESTS AUTO-GENERATED HEADLINES TO BOOST POST DISCOVERABILITY
Instagram is testing a new feature that generates short, search-focused headlines for users' posts, widening the platform's ongoing shift toward SEO-driven discovery.
4 mins
December 13, 2025
Techlife News
SPACEX SAID TO BE PREPARING A 2026 IPO AS VALUATION EXPECTATIONS RISE
SpaceX is reportedly preparing to pursue an initial public offering in 2026, according to new indications circulating among investors and advisors familiar with the company’s long-term planning.
3 mins
December 13, 2025
Techlife News
APPLE'S ORIGINALS EARN MULTIPLE GOLDEN GLOBE NOMINATIONS AS THE STUDIO CONTINUES EXPANDING ITS PREMIUM SLATE
Apple's expanding film and television division secured a wide set of Golden Globe nominations this week, spotlighting the reach of Apple TV's drama and documentary catalog as the service enters its fifth year of original programming.
4 mins
December 13, 2025
Translate
Change font size