I didn’t think this day would finally come – Verizon is buying Yahoo for roughly $4.8 billion. Included in the deal is most of Yahoo’s assets, although not the Alibaba shares or Yahoo Japan and several other assets.
Back in 2015, Verizon had picked up AOL for over $4 billion, and will now have to merge and integrate the two companies’ assets and infrastructure. Reportedly, this is going to happen under the leadership of Marni Walden, the EVP and president of the product innovation and new businesses organization at Verizon. Due to the purchase of Yahoo, the current Yahoo CEO Marissa Mayer is expected to depart with a $50 million-plus package.
The AOL unit at Verizon is responsible for most of Microsoft’s display, mobile and video ads in the US and other international markets. Because Yahoo has search deals with Microsoft and Google, and now Gemini, Verizon is now in the (mobile) search business.