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Verizon closes Yahoo deal, Mayer steps down

Reuters 

(Reuters) - Verizon Communications Inc said on Tuesday it closed its $4.48 billion acquisition of Yahoo Inc's core business and that Marissa Mayer, chief executive of the internet company, had resigned.The completion of the acquisition marked the end of Yahoo as a stand-alone internet company, a tech pioneer once valued at more than $100 billion.Verizon, the No. 1 U.S. wireless operator, is combining Yahoo with AOL, which it bought two years ago, to form a venture called Oath, led by AOL CEO Tim Armstrong. Oath's more than 50 brands include HuffPost, TechCrunch and Tumblr."Given the ...

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First Published: Wed, June 14 2017. 02:33 IST
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