![]() ![]() The acquisition was completed on September 1, 2021, with the company now known as Yahoo. On May 3, 2021, Verizon announced that the Verizon Media would be acquired by Apollo Global Management for roughly $5 billion, and would simply be known as Yahoo following the closure of the deal, with Verizon retaining a minor 10% stake in the new group. in an all-stock deal, remaining minority shareholder in Buzzfeed. In November 2020, Verizon sold HuffPost to BuzzFeed. In August 2019, Verizon sold Tumblr to Automattic, the owner of, for an undisclosed amount which was reportedly less than $3 million. In April 2018, Verizon sold Flickr to SmugMug, for an undisclosed amount. On January 8, 2019, Oath was renamed Verizon Media. The move wiped out all of the goodwill on the balance sheets that accompanied the acquisitions. Verizon management blamed competitive pressures and that the business never achieved the anticipated benefits. In December 2018, Verizon announced that it was cutting 10% of Oath's workforce and would write down the value of the business by $4.6B. The move came after the Tumblr app was removed from the Apple App Store due to issues with child pornography, leading some to speculate that the ban may have been made to regain access to the App Store. This move raised objections that it harms their LGBTQ community, sexual abuse survivors, sex workers, adult content blogs, and other bloggers. On December 3, 2018, the company declared a new set of rules for the Tumblr community that took effect December 17, 2018, banning "adult content". Guru Gowrappan would succeed Tim Armstrong as CEO, effective October 1. On September 12, 2018, it was announced that K. The agreement includes Oath's Newsroom, Yahoo! Sports, Yahoo! Finance, and go90 mobile video apps (closed in July 2018), with integration of native Oath advertisements into both the Oath apps and Samsung's own Galaxy and Game Launcher apps. In May 2018, Verizon and Samsung agreed to terms that would preload four Oath mobile apps onto Samsung Galaxy S9 smartphones. In April 2018, Helios and Matheson Analytics acquired the Moviefone movie listings website from Oath, in consideration for which Verizon took a stake in Helios and Matheson. ![]() In 2018, Altaba sold Yahoo! Japan to SoftBank Group. After the merger, Oath cut fifteen percent of the Yahoo-AOL workforce. Yahoo! operations not acquired in the deal were renamed Altaba, a holding company whose primary assets are its 15.5 percent stake in Alibaba Group and 35.5 percent stake in Yahoo! Japan. Upon completion of the deal, Yahoo! CEO Marissa Mayer resigned. The deal closed on June 13, 2017, and Oath was launched. Two months before closing the deal for Yahoo!, Verizon announced it would place Yahoo! and AOL under an umbrella named Oath. Walden exited Verizon in 2017 and as later events revealed, the integration did not deliver the expected value. Walden had been tasked with merging the two entities and delivering on the promise of moving Verizon from an analog to digital platforms business. The AOL deal and subsequent Yahoo! purchase were led by Verizon's management team, including Lowell McAdam (CEO), Marni Walden (EVP Product) and Tim Armstrong. As a result, Verizon lowered its offer for Yahoo! by $350 million to $4.48 billion. Yahoo! announced in September and December 2016 two major Internet security breaches affecting more than a billion customers. Ī year after the completion of the AOL acquisition, Verizon announced a $4.8 billion deal for Yahoo!'s core Internet business, to invest in the Internet company's search, news, finance, sports, video, emails and Tumblr products. As of December 2019, the company employed about 10,350 people. The company maintains dual headquarters at the former AOL and Yahoo! headquarters buildings in Manhattan, New York, and Sunnyvale, California, respectively. The acquisition was completed on September 1, 2021. On May 3, 2021, Verizon announced that 90 percent of the division would be acquired by American private equity firm Apollo Global Management for roughly $5 billion, and would simply be known as Yahoo Verizon would retain a ten percent stake in the new group. In December 2018, Verizon announced it would write down the combined value of its purchases of AOL and Yahoo! by $4.6 billion, roughly half the company would be renamed Verizon Media the following month in January 2019. The resulting subsidiary entity was briefly called Oath Inc. It is the second and current incarnation of the company, after Verizon Communications acquired the core assets of its predecessor and merged them with AOL in 2017. is an American multinational technology company that focuses on media and online business. ![]()
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