Yahoo’s core business (advertising, content, search, mobile) is being acquired by Verizon for $4.83 billion in cash.
“The acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising.”
-Lowell McAdam, Verizon Chairman & CEO
Yahoo’s stakes in Alibaba and Yahoo Japan aren’t part of the deal.
Yahoo will be integrated with AOL, which Verizon acquired last year, with Verizon EVP and Product Innovation and New Businesses organization Marni Walden leading the process.
“Yahoo is a company that has changed the world, and will continue to do so through this combination with Verizon and AOL. The sale of our operating business is an important step in our plan to unlock shareholder value for Yahoo. This transaction also sets up a great opportunity for Yahoo to build further distribution and accelerate our work in mobile, video, native advertising and social.”
-Marissa Mayer, Yahoo CEO
“This transaction is about unleashing Yahoo’s full potential, building upon our collective synergies, and strengthening and accelerating that growth. Combining Verizon, AOL, and Yahoo will create a new powerful competitive rival in mobile media, and an open, scaled alternative offering for advertisers and publishers.”
-Tim Armstrong, AOL CEO