MAM

Telecom giant Verizon buys Yahoo for $4.8 billion; to merge Yahoo and AOL

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/07/26/verizon%20yahoo.jpg?itok=qV-0-p3p

MUMBAI: After much anticipation and speculation, word is out that US based telecommunication giant, Verizon will buy Yahoo for USD 4.83 billion in cash at the end of a closely-scrutinized, six-month sale process.

Yahoo first put itself up for sale in February and it fielded multiple bids from almost 40 different types of buyers including AT&T; Quicken Loans founder Dan Gilbert with financial backing from Berkshire Hathaway CEO Warren Buffett; and private equity firms TPG and Vector Capital Management.

But finally Yahoo informed the other bidders on Saturday that it has sealed the deal with Verizon.

“Yahoo is a company that has changed the world, and will continue to do so through this combination with Verizon and AOL,” said Yahoo CEO Marissa Mayer in a press release. “The sale of our operating business, which effectively separates our Asian asset equity stakes, is an important step in our plan to unlock shareholder value for Yahoo. This transaction also sets up a great opportunity for Yahoo to build further distribution and accelerate our work in mobile, video, native advertising and social.”

When it comes to how Yahoo, that was the front door to the web for many in the 90s and the early 2000s, and its internal functioning, Verizon has a few plans. It has been decided that Yahoo and AOL will be brought together as a new group that AOL’s CEO Tim Armstrong will supervise. It must be noted that Verizon has earlier bought AOL for USD 4.4 billion last year.

“Our mission at AOL is to build brands people love, and we will continue to invest in and grow them,” he said in a press release. “Yahoo has been a long-time investor in premium content and created some of the most beloved consumer brands in key categories like sports, news and finance… We have enormous respect for what Yahoo has accomplished.”

Marissa Mayer is not expected to stay on board, but that has not yet been confirmed by either company.

Verizon’s acquisition is of “core” Yahoo, which includes search, email, advertising products, and the media business (including Yahoo Finance).

Verizon has made a string of acquisitions in an apparent effort to move beyond a telecom provider into a media-and-mobile-advertising powerhouse that can compete with Google. Many believe buying Yahoo is a savvy move for Verizon. In addition to getting the fifth-most visited web site in the US, Verizon gets assets like Tumblr, Flickr, Polyvore and digital ad tools Flurry and BrightRoll.

(Sourced from nytimes.com and Yahoo Finance)

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/23/srh.jpg?itok=gFdu_3au
GRADO from The House of GBTL and OCM unites with Sunrisers Hyderabad

GRADO from the House of GBTL and OCM has joined forces with Sunrisers Hyderabad (SRH) as its principal sponsor and cotton blazer partner for IPL 2019. The format of the association will be of GRADO being SRH’s principal sponsor with logo presence on its jersey, on perimeter board, visible branding...

MAM Marketing Brands
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/22/voiro.jpg?itok=xML5mCUp
1Crowd invests Rs 2.5 cr in media tech brand Voiro

Bangalore-based startup Voiro, a unique revenue management suite for ad-led digital publishers, has attracted Rs 2.5 crore in a pre-series A-round of funding led by early stage investment fund 1Crowd and its investor community.

MAM Marketing Brands
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/22/sun.jpg?itok=pPuK-2gs
93.5 RED FM is principal sponsor of SunRisers Hyderabad for IPL 2019

93.5 RED FM has announced its association as the principal sponsor of SunRisers Hyderabad for the 12th edition of VIVO Indian Premier League (IPL 2019).

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/22/phonepe.jpg?itok=dGsqZbFg
Aamir Khan announced as PhonePe brand ambassador

PhonePe, India’s fastest growing payments platform, today announced Bollywood superstar Aamir Khan as the face of its brand.

MAM Media and Advertising People
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/22/Aditya_Bafna.jpg?itok=rUiJHwL5
Want to promote cycling as a lifestyle choice first: Giant Bicycles' Aditya Bafna

Started in 1972 in Taiwan, Giant Bicycles is one of the world’s largest producers of high-quality and performance bicycles. Known globally for bringing together high-quality craftsmanship, technology, and innovative designs under one roof, it recently made its debut in India, opening its flagship...

MAM Marketing Brands
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/20/prithvi.jpg?itok=0uHyIv8S
Fanmojo announces association with Prithvi Shaw

Keeping an eye on the rising popularity of fantasy sports in India, Fanmojo, a part of U2opia Global, announced its association with the young prodigy of Indian cricket-Prithvi Shaw.

MAM Media and Advertising People
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/20/inox.jpg?itok=oFDz3iYg
INOX becomes the official partner of Rajasthan Royals

India’s fastest growing multiplex operators INOX Leisure Ltd announced that they have become the official partners with Rajasthan Royals. Under the partnership, INOX will have its logo presence on the team attire.

MAM Marketing Brands
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/20/holi.jpg?itok=dYf5kwUZ
Holi goes digital with Helo

Sending Holi greetings, Helo, India's leading regional social media platform, just launched ‘Holi by Helo’ its latest festive campaign.

MAM Marketing MAM
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/03/20/quint.jpg?itok=cB1Gt0se
The Quint, founded by Raghav Bahl and Ritu Kapur, turns 4

The Quint, India’s leading mobile-first online news portal, completes four years of delivering bold and thought-provoking news, views and interactive content to its readers.

MAM Marketing MAM

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories