Verizon buys Yahoo for $4.83B, marking end of an era

[DonViejo]

Source: The Washington Post

By Michael Liedtke and Tali Arbel?|?AP July 25 at 7:13 AM

SAN FRANCISCO — Verizon is buying Yahoo for $4.83 billion, marking the end of an era for a company that once defined the internet.

The sale announced Monday marks the second time in two years that Verizon has snapped up the remains of a fallen internet star as it broadens its digital reach. The nation’s largest wireless carrier paid $4.4 billion for AOL last year.

Verizon won the Yahoo bidding after a five-month auction.

Yahoo Inc. is parting with its email service and websites devoted to news, finance and sports in addition to its advertising tools under pressure from shareholders fed up with a steep downturn in the company’s revenue during the past eight years.

Read more: https://www.washingtonpost.com/national/verizon-buys-yahoo-for-483b-marking-end-of-an-era/2016/07/25/c79c638c-5258-11e6-b652-315ae5d4d4dd_story.html

[uawchild]

1. I am shocked

That Yahoo was still worth even 4.8 billion dollars, I thought it was essentially worthless.

[jamzrockz]

10. This is rreally sad

considering that they paid more money for Mark Cuban's internet company broadcast.com. Imagine if they had saved that money and skipped on that useless website masquerading as a company?

[Calista241]

12. Yahoo! owned a significant stake in Ali Baba before it went public.

and made a fuckton of money, then basically put a significant portion of that profit in the bank. Yahoo had close to $4 billion in the bank, so the fact that Verizon bought them for nearly the amount of money they had in the bank is a giant indictment on Yahoo! leadership.

[Javaman]

3. ...

[Astraea]

4. 4.83 billion

more than it's worth.

[FailureToCommunicate]

6. A waste of my monthy $$ to Verizon! But, I will always have a soft spot for Yahoo for this ad:

You know the one...

[Initech]

7. So when Yahoo was going under their CEO still made $20+ million a year.

Don't remember the exact number but that's pretty sickening. Could it be those companies are going under because of their ridiculous executive salaries?

And yay mega mergers!

[Sen. Walter Sobchak]

8. Shouldn't the headline be "Verizon buys Flickr for $4.83B"

What else is there?

[melman]

9. Tumblr

[Sen. Walter Sobchak]

13. Tumblr is worthless

[kentauros]

11. Yahoo did not define the Internet.

Usenet and GeoCities did that. Yahoo came later and bought up GeoCities. And just as quickly ruined it.

I don't know what Verizon's plans are for Yahoo, but by the looks of it, much of it will go poof. Seems typical of everything Yahoo touches.