MAM

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

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/07/26/verizon%20yahoo.jpg?itok=kDGaTBKV

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/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/17/Sam_Balsara.jpg?itok=XtbZChot
Pitch Madison report forecasts 2018 digital adex growth at 25%

MUMBAI: According to the findings of the 16th Pitch Madison Advertising Report (PMAR) 2018, the advertising market slowed down to 7.4 per cent (Rs 53,138 crore) in 2017. The report also predicts the advertising growth in 2018 to be around 12.03 per cent thereby adding Rs 6,392 crore to adex to...

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/16/priya-warrier.jpg?itok=dL0iN4uI
Net sensation Priya Varrier promotes Pringles

At a time when the whole wide world seemed to be lingering around with cupids and love-struck angels, Kellogg’s popular potato crisps brand and the world's second-largest potato chips player Pringles created a frenzy by striking the right chord with singles!

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/16/onlinelove.jpg?itok=SD3Wb5jH
Digital takes centre stage on tepid Valentine's Day for brands

MUMBAI: Love has been in the air and on the internet all week. Valentine’s Day is no longer about just a day you spend with your loved one but is rather a week-long affair of gifts and celebration. Valentine’s Day has become no less than a festival in India, a country that takes much pride in its...

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/16/unbic.jpg?itok=oaCyfO4-
Unibic awards media duties to Mindshare

MUMBAI: Unibic, a renowned name in the cookie industry has awarded its media duties to Mindshare, after a competitive multi-agency pitch. The mandate involves handling the media strategy, planning and implementation across all media in India. The account will be handled out of the Mindshare...

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/16/trucks.jpg?itok=xatx1bIF
Happy mcgarrybowen to handle BharatBenz's creative and media mandate

MUMBAI: Happy mcgarrybowen has been selected by Daimler India Commercial Vehicles (DICV) as the agency on record for its BharatBenz brand, known for its range of modern trucks and buses. The appointment followed a multi-agency pitch held in Chennai. Happy mcgarrybowen, the creative agency from the...

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/15/icubes.jpg?itok=hXJR1hzB
iCubesWire bags digital mandate for AMB Group

iCubesWire,a digital marketing solution and concept provider has bagged the digital media mandate for AMB Group, a renowned real estate developer of Delhi NCR.

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/14/rado.jpg?itok=0qOd1pP7
Rado brand ambassador Hrithik Roshan opens new store at Delhi Airport

Bollywood megastar Hrithik Roshan was the guest of honour at an exciting event to open Rado’s stylish new monobrand store at Delhi IGI Airport today.

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/14/diamond.jpg?itok=a3StI6kq
Diamond Producers Association launches V-Day campaign

The Diamond Producers Association (DPA), an international alliance of the world's leading diamond mining companies, has launched its second film as a part of their integrated marketing campaign ‘Real is Rare. Real is a Diamond’.

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/02/14/mpa.jpg?itok=HGIpuTun
APOS 2018: speakers & themes unveiled for annual summit of local, regional & global leaders In media, entertainment & telecoms

HONG KONG/SINGAPORE: Some of the biggest brands across the local, regional and global media, entertainment and telecommunications industries will participate at this year’s APOS summit, hosted by Media Partners Asia in Bali, Indonesia from April 24-26. APOS 2018 brings together key players across...

MAM Marketing MAM

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories