Verizon completes Yahoo acquisition, Marissa Mayer resigns

Verizon Communications Inc. today completed its acquisition of the operating business of Yahoo! Inc.

Verizon has combined these assets with its existing AOL business to create a new subsidiary, Oath, a diverse house of more than 50 media and technology brands that engages more than a billion people around the world.

The Oath portfolio includes HuffPost, Yahoo Sports, AOL.com, MAKERS, Tumblr, BUILD Studios, Yahoo Finance, Yahoo Mail and more, with a mission to build brands people love.

Marni Walden, Verizon president of Media and Telematics, said in a statement, “The close of this transaction represents a critical step in growing the global scale needed for our digital media company. The combined set of assets across Verizon and Oath, from VR to AI, 5G to IoT, from content partnerships to originals, will create exciting new ways to captivate audiences across the globe.”

Tim Armstrong, former CEO of AOL, is now CEO of Oath, which is part of Verizon’s Media and Telematics organization. He has been leading integration planning teams since the Yahoo transaction was announced in July 2016, and Oath begins operation today as a global leader in digital and mobile. See www.oath.com for further information.

Armstrong said in a statement, “We’re building the future of brands using powerful technology, trusted content and differentiated data. 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.”

Armstrong is also leading efforts to continue to build the industry’s most advanced and open advertising technology solutions, with brands such as ONE by AOL and BrightRoll that span across mobile, video, search, native and programmatic ads.

Given the inherent changes to Marissa Mayer’s role with Yahoo resulting from the closing of the transaction, Mayer has chosen to resign from Yahoo. Verizon wishes Mayer well in her future endeavors.

Read more in the full article here.

MacDailyNews Take: One more time (for now*):

Yahoo CEO Marissa Mayer (photo by Brigitte Lacombe)
Yahoo CEO Marissa Mayer (photo by Brigitte Lacombe)

*We expect Mayer, who’s only 42, won’t be riding off into the sunset just yet.

SEE ALSO:
Marissa Mayer will pocket $186 million when Verizon fully acquires Yahoo next month – May 26, 2017
CEO Marissa Mayer drops the ax, shutters about half of Yahoo’s content verticals – February 17, 2016
Yahoo CEO Marissa Mayer gets a chance to make one last stand – February 3, 2016
Yahoo to lay off 15% of staff, close five offices, explore non-strategic asset sales – February 2, 2016
Yahoo investors running out of patience with CEO Marissa Mayer – January 4, 2016
Hedge fund manager blasts Marissa Mayer for equipping employees with 22,000 iPhones – January 4, 2016
Yahoo board to weigh future of company, Marissa Mayer, source says – December 2, 2015
Yahoo or Microsoft can terminate search deal anytime on or after October 1st – April 21, 2015
Microsoft loses exclusivity in Yahoo search deal shake up – April 17, 2015
Yahoo gains further US search share; Google falls below 75% for first time – February 3, 2015
Microsoft, Yahoo vie to become Apple Safari’s default search option – November 26, 2014
Firefox dumps Google for default U.S. search, switches to Yahoo/Bing – November 20, 2014
Yahoo’s Marissa Mayer was right to ban working from home, right? – August 12, 2014
Yahoo CEO Marissa Mayer wants to save Google a billion dollars – April 18, 2014
Yahoo’s strategy: Rebuild search, take share, win iOS from Google – April 17, 2014

37 Comments

            1. There is nothing funny about your comments. So why exactly should we laugh. You should ask your doctor to check your funny bone bone the next you are in for a check up.

          1. Says more about MDN than anything else. Notice how they delete things that differ with their alt-right agenda, but leave the horrible comments from botvinnik, Kolache, and the like?
            By the way, First this then that is actually the person that runs MDN.

        1. ‘Jes trying’ to be an asshole you mean. You just took a big step down the evolutionary ladder bonehead. Do you always try so hard at being repugnant & disliked? You’re turning that into an art form.

    1. Sadly no. She was very much wrapped up in the CEO rock star lifestyle.

      Very much like Jony Ive or Eddie Cue or Airhead Ahrendts, come to think of it. All fashion, zero substance. The difference between Yahoo and Apple however is that with Jobs ‘ gold mine pumping out cash, nobody notices when a few million are missing here and there, or if hobbies never get finished, or if 4 years go by without a hardware update. If you look good, you can get away with anything until the money is gone.

      1. It’s always all about the shoes. Look at Tim Cook. No matter what he tries to do, or has done, he can’t fill Steve Jobs’s shoes. Ahrendts and the others had unquestioned talents but Tim hasn’t harnessed them to our satisfaction. Sure and the money is being soaked up by all manner of vanity projects but they are scarcely wasting it faster than they are making it. Bloody hell if they could only do anything right they would have a trillion dollar company and no critics. Sigh, if wishes were horses then beggars would ride, my father used to say. Sigh. My mother used to say, stay away from those internet hangouts, it’s bad for your complexion.

      1. She accomplished $186 million in her bank account, for starters. That’s more than any of us here have been able to do. Of course, we inhabit nobler high ground.

  1. So, I guess the moral of that story is it’s okay to be handsomely rewarded for destroying the business you were hired to competently run so long as you mind your P’s & Q’s provided they are right up there with your T’s & A’s!

  2. Yahoo has become one of the most annoying sites on the web. With stories that tease but don’t deliver, videos that stalk you on each page with ads on the front end for sh*t I will never buy. But I’m sure the corporate overlords at Verizon will make all this hunky-dory.

    1. Prediction: Marissa will not be CEO of a major firm anytime soon, unless she funds it herself and makes it a success.

      She was not known for high level executive skills.

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