Monday, July 25, 2016

Verizon 'Agrees $5billion Yahoo Deal’

It's official! US telecoms giant Verizon Communications (which owns AOL, which owns TechCrunch) is acquiring Yahoo's search and advertising operations for $5bn (£3.8bn), according to media reports. The two firms were reported to be in exclusive talks for months over a possible deal.
“Just over a year ago we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertisers,” Verizon Chairman and CEO Lowell McAdam said in the release. “The acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising.”
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