Verizon completed its $4.5 billion purchase of Yahoo‘s Internet assets, which basically means it bought all of Yahoo except for its equity holdings in Alibaba and Yahoo Japan, according to some international news sites reported Wednesday, June 14, 2017.
Yahoo’s chief executive Marissa Mayer resigned as expected, as Verizon finalized the deal integrating the Yahoo internet operations into a new unit called Oath, which includes another former sector leader, AOL. Tim Armstrong, former CEO of AOL, now holds the same title at Oath, a division in Verizon’s Media and Telematics organization.
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“We’re building the future of brands using powerful technology, trusted content and differentiated data,” Armstrong mentioned in a statement.
“We have dominating consumer brands in news, sports, finance, tech, and entertainment and lifestyle coupled with our market leading advertising technology platforms. Now that the deal is closed, we are excited to set our focus on being the best company for consumer media, and the best partner to our advertising, content and publisher partners”, he added.