AfterDawn: Tech news

Verizon to buy Yahoo core assets for $4.8 billion

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

Verizon to buy Yahoo core assets for $4.8 billion 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

Previous Next  

5 user comments

125.7.2016 14:59

Good job, Marissa!!! /sarcasm

227.7.2016 05:36

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

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

Ouch. :)

...I think DuckDuckGo uses Yahoo.

528.7.2016 11:58

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)!

Comments have been disabled for this article.

Latest news

Sideloading apps to Android gets easier, as Google settles its lawsuit Sideloading apps to Android gets easier, as Google settles its lawsuit (19 Dec 2023 11:09)
Google settled its lawsuit in September 2023, and one of the settlement terms was that the way applications are installed on Android from outside the Google Play Store must become simpler. In the future, installing APK files will be easier.
3 user comments
Roomba Combo j7+ review - Clever trick allows robot vacuum finally to tackle home with rugs and carpets Roomba Combo j7+ review - Clever trick allows robot vacuum finally to tackle home with rugs and carpets (06 Jun 2023 9:19)
Roomba Combo j7+ is the very first Roomba model to combine robot vacuum with mopping features. And Roomba Combo j7+ does all that with a very clever trick, which tackles the problem with mopping and carpets. But is it any good? We found out.
Neato, the robot vacuum company, ends its operations Neato, the robot vacuum company, ends its operations (02 May 2023 3:38)
Neato Robotics has ceased its operations. American robot vacuum pioneer founded in 2005 has finally called it quits and company will cease its operations and sales. Only a skeleton crew will remain who will keep the servers running until 2028.
5 user comments
How to Send Messages to Yourself on WhatsApp How to Send Messages to Yourself on WhatsApp (20 Mar 2023 1:25)
The world's most popular messaging platform, Meta-owned WhatsApp has enabled sending messages to yourself. While at first, this might seem like an odd feature, it can be very useful in a lot of situations. ....
18 user comments
How to Enable Bluetooth on Stadia Controller How to Enable Bluetooth on Stadia Controller (11 Feb 2023 1:04)
Google shut down its streaming game service Stadia late last month and this means that some people have Stadia controllers lying around that seem to be of no use. That is fortunately not the ....
2 user comments

News archive