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US: Another one bites the dust: end of Yahoo

By  |  July 25, 2016

Following what many annalists predicted, Verizon is buying Yahoo for $4.83 billion, marking the end of an era for a company that once defined the internet.

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    Yahoo Inc., based in Sunnyvale, California, is parting with its email service and various still-popular websites devoted to news, finance and sports as well as its advertising tools after falling under pressure from shareholders fed up with a steep downturn in the company’s revenue during the past eight years.

    Once the sale is completed early next year, Yahoo will become a holding company for its two stakes in Alibaba Group and Yahoo Japan. Those investments, which were made more than a decade ago, are now worth more than $40 billion before taxes, making them by far the most valuable pieces of Yahoo. The holding company will drop the Yahoo name and adopt a new identify after Verizon takes control of the operating business.

    Yahoo still has a patent portfolio that it intends to sell, and about $7.7 billion in cash, however, Verizon is buying Yahoo’s real estate, along with the online operations.

    Here is a link from The Wall Street Journal chronicling Yahoo’s stock prices over the years.

    Full Content: Chicago Tribune

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