Yahoo's tenure as an independent internet company is coming to an end. On Monday, Verizon confirmed its $4.8-billion buyout of the beleaguered web pioneer. Verizon won the bidding war for Yahoo after a five-month-long auction, following Yahoo's announcement in February that it would consider alternatives as its revenue continued to plummet.
All that's left of Yahoo now is its 35.5 percent stake in Yahoo Japan Corp. and 15-percent interest in Chinese e-commerce giant Alibaba Group Holding Ltd., which have a combined market value of roughly $40 million. Yahoo will hand over its email services, websites, advertising tools, and real estate assets. The deal will likely also end the tenure of Yahoo CEO Marissa Mayer.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
'A direct, protracted war with Israel is not something Iran is equipped to fight'Instant Opinion Opinion, comment and editorials of the day
-
Today's political cartoons - April 17, 2024Cartoons Wednesday's cartoons - political anxiety, jury sorting hat, and more
-
Arid Gulf states hit with year's worth of rainSpeed Read The historic flooding in Dubai is tied to climate change
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
-
Reddit IPO values social media site at $6.4 billionSpeed Read The company makes its public debut on the New York Stock Exchange
-
Housing costs: the root of US economic malaise?speed read Many voters are troubled by the housing affordability crisis
-
Feds cap credit card late fees at $8speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
