Verizon Communications, a telecommunications giant
that was a cluster of local phone companies when two Stanford University graduate students began compiling their famous web directory in 1994, completed its purchase on Tuesday of Yahoo’s internet business for $4.48 billion.
Verizon Completes $4.48 Billion Purchase of Yahoo, Ending an Era -
By VINDU GOELJUNE 13, 2017
SAN FRANCISCO — It’s official: Yahoo, one of the founding companies of the internet era, is no more.
Although she failed to reinvent Yahoo for success in the mobile era, she was well compensated for her five years leading the company,
earning an average of $1 million a week as Yahoo’s share price more than tripled and the value of its Asian investments soared.
Oath has about 1.3 billion users who visit at least once a month,
and Verizon hopes to use its range of content and create new forms of advertising to attract more viewers and marketers to the platform.
“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,” Mr. Armstrong said in a statement.
