Verizon takes over Yahoo to complete $4.5 billion deal

SHARE Verizon takes over Yahoo to complete $4.5 billion deal
verizon_yahoo_69454898.jpg

Verizon completed its $4.5 billion takeover of Yahoo on Tuesday, June 13, 2017. | AP file photo

NEW YORK — 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 21-year history as a publicly traded company. It also ends the nearly five-year reign of Yahoo CEO Marissa Mayer, who isn’t joining Verizon.

Yahoo’s email and other digital services will be run by Tim Armstrong, who has been in charge of AOL. Armstrong is now CEO of a new Verizon subsidiary called Oath, which will consist of Yahoo and AOL services.

Verizon won’t be getting Yahoo’s prized stakes in two Asian internet companies, Alibaba Group and Yahoo Japan. Those will belong to a newly formed company called Altaba.

The Latest
The man was shot in the left eye area in the 5700 block of South Christiana Avenue on the city’s Southwest Side.
Most women who seek abortions are women of color, especially Black women. Restricting access to mifepristone, as a case now before the Supreme Court seeks to do, would worsen racial health disparities.
The Bears have spent months studying the draft. They’ll spend the next one plotting what could happen.
Woman is getting anxious about how often she has to host her husband’s hunting buddy and his wife, who don’t contribute at all to mealtimes.
He launched a campaign against a proposed neo-Nazis march at a time the suburb was home to many Holocaust survivors. His rabbi at Skokie Central Congregation urged Jews to ignore the Nazis. “I jumped up and said, ‘No, Rabbi. We will not stay home and close the windows.’ ”