Released: June 14, 2017
Verizon has acquired Yahoo, will combine with AOL
Source: Anya George Tharakan & David Shepardson, Reuters (Paid Registration)
Verizon Communications Inc (VZ.N) said on Tuesday it closed its $4.48 billion acquisition of Yahoo Inc's (YHOO.O) core business and that Marissa Mayer, chief executive of the internet company, had resigned. The completion of the acquisition marked the end of Yahoo as a stand-alone internet company, a tech pioneer once valued at more than $100 billion.
Verizon, the No. 1 U.S. wireless operator, is combining Yahoo with AOL, which it bought two years ago, to form a venture called Oath, led by AOL CEO Tim Armstrong. Oath's more than 50 brands include HuffPost, TechCrunch and Tumblr.
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