Verizon to buy Yahoo core assets for $4.8 billion

Written by Andre Yoskowitz @ 24 Jul 2016 9:47 User comments (5)

As expected, Verizon will bid $4.8 billion for Yahoo's core assets, ending the Web pioneer company's sad decline since its peak in the early 2000s.

Verizon will acquire the core internet operations and land holdings but not the company's highly valuable Alibaba stake, giving Verizon access to 1 billion visitors per month across a portfolio of media assets like the popular Yahoo Finance.

Revenue and profits for Yahoo have fallen for the last half decade, and the company's high-profile acquisitions like Tumblr have all misfired.

Marissa Mayer, the Yahoo CEO brought in 2012 to turn around the fortunes of the company but who did the exact opposite, will receive an extra $55 million in severance after the sale, giving yet another example of how executive pay is usually outrageous.

Source:
NYT

Tags: Verizon Yahoo acquisitions

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5 user comments

125.7.2016 14:59

ivymike

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Good job, Marissa!!! /sarcasm

227.7.2016 05:36

Jemborg

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Senior Member

I can't understand execs who get bonuses for failing. Look what happened after the GFC; people who should even have been sent to jail got paid their bonuses.... by the American taxpayers! WTF?!?

327.7.2016 21:48

KillerBug

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AfterDawn Addict

The severance sort of makes sense...Verizon is paying him $55 million for reducing the amount they had to pay for Yahoo by billions. The average person wouldn't have done that for them, he went above and beyond in slamming Yahoo into the ground. Now he can take his skills to another company and then get paid for smashing that company into the ground. As for the employees and engineers that would have actually done better with no CEO at all, they get screwed (at best, they now work for an even worse company)...but that makes sense from the viewpoint that they did not actively make the price lower.

428.7.2016 02:08

Jemborg

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Ouch. :)

...I think DuckDuckGo uses Yahoo.

528.7.2016 11:58

hearme0

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Yet another Comcast-like frivolous venture that will end up LIKELY in total liquidation of Yahoo! assets.

Must be nice to have enough f'ing money to throw around in larks, only to cost the taxpayers a shitload of money, forced job layoffs/terminations and higher prices because Verizon has to recoop its losses from said frivolous venture(s)!

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Verizon to buy Yahoo core assets for $4.8 billion

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