Marissa Mayer, chief executive of Yahoo, said: “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, which effectively separates our Asian asset equity stakes, 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.”Yahoo has come under pressure from shareholders angry with a downturn in the company’s performance over the past eight years as it lost out to the likes of Google and Facebook.
Taylor Swift leads a magical life, so it was only a matter of time before she added a witch to her ever-growing crew of famous female friends.
Taylor Swift recently got the chance to cast her friendship spell on , Emma met Taylor backstage during the singer’s recent concert in London.
Singer Lauren Aquilina posted a photo of the meeting on Twitter, and of course, Emma Watson wasn’t the only gorgeous gal hanging out with Taylor — Martha Hunt, Victoria’s Secret model Karlie Kloss, and Echosmith singer Sydney Sierota can also seen showing off their best imitations of Taylor Swift’s surprised face in the photo below..
Yahoo is being bought out by Verizon in a £3.8bn deal..
(AP Photo/Marcio Jose Sanchez, File) Copyright 2016 The Associated Press. This material may not be published, broadcast, rewritten or redistributed without permission.
Verizon said the deal will create a combined company with one billion users and more than 25 brands which will be primed for “continued investment and growth”.
The crux of the move will see Verizon merge Yahoo with AOL, which it bought last year for 4.4 billion US dollars (£3.4 billion).
The deal will include Yahoo’s email service and news, finance and sports websites, photo storage site Flickr and its advertising tools.
However, Yahoo’s cash, its shares in Alibaba Group Holdings and Yahoo Japan, plus a portfolio of patents, will continue to be held by Yahoo, but it will change its name and begin trading as an investment company.
Lowell Mc Adam, Verizon’s chairman and chief executive, said: “Just over a year ago we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertisers.“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.”Verizon said the takeover still needs the approval of Yahoo’s shareholders and the green light from regulators.
It expects the deal to be complete in the first quarter of next year.