
Verizon completes Yahoo acquisition and announces CEO Marissa Mayer's resignation
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Verizon Communications said on Tuesday it closed its $4.48bn acquisition of Yahoo's core business and that Marissa Mayer, chief executive of the internet company, had resigned. “However, I want all of you to know that I’m brimming with nostalgia, gratitude, and optimism.” Mr Armstrong told employees in a separate note seen by Reuters that the combined company's services “reach over a billion people each month.” He added that “accomplishing our objectives and goals will require adjustments to the company.” He said the “opportunity in front of us is not about the opinions from the pundits and it is not about the competition, it is about our ability to maniacally focus on delivering magical services to mobile enabled consumers.” The closing of the deal, announced in July, had been delayed as the companies assessed the fallout from two data breaches that Yahoo disclosed last year. Reuters reported last week that Verizon planned to cut about 2,000 jobs, or 15 per cent, of the 14,000 employees at its Yahoo and AOL units. On Friday, the remainder of Yahoo not acquired by Verizon will be renamed Altaba, a holding company whose primary assets will be its 15.5 per cent stake in Alibaba and a 35.5 per cent holding in Yahoo Japan Corp. Thomas McInerney, a Yahoo board member, will become Altaba's chief executive officer.
History of this topic

Yahoo to fire 1,000 employees this week under cost-cutting campaign
India TV News
Yahoo will eliminate 1,000 jobs in latest tech workforce cuts
LA Times
Verizon sells internet trailblazers Yahoo and AOL
The Hindu
Verizon sells internet trailblazers Yahoo and AOL for $5B
Associated Press
Verizon to sell its Yahoo, AOL unit to Apollo in $5-billion deal
LA Times
BuzzFeed to lay off 200 staff as millennial media firm struggles to make profit
The Independent
Yahoo logs off as Verizon completes $4.5 bn takeover, CEO Marissa Mayer quits
India TV News
Verizon takes over Yahoo to complete $4.5 billion deal
Associated Press
Verizon takes over Yahoo to complete Rs 29,000 cr deal
India TV News
Verizon slashes 2,100 jobs after the Yahoo merger
Firstpost
Verizon to take over Yahoo, will cut 2,000 jobs
Firstpost
Verizon’s first move with Yahoo is to ditch 2,100 jobs
Associated Press
Yahoo And AOL Move In Together Under 'Oath,' Verizon's New Digital Arm
NPR
Yahoo and AOL will merge to form a new company called Oath
Firstpost
Yahoo CEO Marissa Mayer could get $23 mn golden parachute: Report
Firstpost
Yahoo punishes boss in latest fallout from security breakdown
China Daily
Yahoo salvages Verizon deal with USD 350 million discount
India TV News
Verizon to close Yahoo deal $250-$350 million less than original deal
Firstpost
Yahoo will close the sales with Verizon in the second quarter – Firstpost
Firstpost
Yahoo to change name of major part of its business
The Independent
Yahoo to be named Altaba, CEO Marissa Mayer to quit board after Verizon deal
Live Mint
Yahoo to change name, trim board if Verizon deal gets done
India TV News
What's next for Yahoo and Verizon?
Salon
Verizon considers changing Yahoo deal after latest hacking case
Live Mint
Verizon says it’ll take a while to figure out how the Yahoo hack affects their deal
LA Times
Yahoo’s traffic rises despite hacking
Live Mint
Verizon is said to see Yahoo breach affecting acquisition
Live Mint
Yahoo hack may cost the company the Verizon deal
Firstpost
Yahoo’s data breach may impact its $4.83-billion deal to sell to Verizon
LA Times
Yahoo hack: World's biggest data breach could compromise Verizon deal and cost hundreds of millions of dollars
The Independent
Marissa Mayer can gain $44 million if she leaves after Verizon takeover
Firstpost
Yahoo Japan sought merger with parent ahead of Verizon deal
Live Mint
Yahoo CEO Marissa Mayer could reap Rs 294 crore if she quit after sale
India TV News
Verizon said to end Yahoo survival fight with a $4.8b deal
China Daily
Verizon expected to buy Yahoo core for $4.8b .
China Daily
Seeking wider digital audience, Verizon buys Yahoo for $4.8B
Associated Press
Why Yahoo Still Matters
Huff Post
Verizon confirms Yahoo! buyout worth $4.83bn
The Independent
Yahoo acquisition: Here's what Verizon does not get from the deal
Firstpost
Verizon Buys Internet Giants Yahoo for $4.8 Billion
The Quint
Verizon buys Yahoo web assets for $4.8 billion
Live Mint
An end to Yahoo era, Verizon buys internet pioneer in Rs 32000 cr all-cash deal
India TV News
Verizon buys Yahoo for $4.8 billion, and it’s giving Yahoo’s brand another chance
LA Times
Verizon 'agrees to buy Yahoo' for $5bn
The Independent
Verizon said to be buyer of Yahoo for $5 billion: Reports
Associated Press
Verizon Buys Yahoo, Ending The Run Of An Internet Mammoth
NPR
Verizon said near $5 billion deal for Yahoo, beating rivals
Live Mint
Verizon reportedly close to acquiring Yahoo for around $5 billion
LA Times
AT&T looking to better Verizon's bid as Yahoo reviews new bids
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