Yahoo sold, CEO Marissa Mayer resigning

Yahoo sold, CEO Marissa Mayer resigning

Yahoo sold, CEO Marissa Mayer resigning

Inc's internet services, giving the telecommunications giant access to hundreds of millions of users, while also closing a chapter on the iconic web portal as a standalone business that had come under sharp criticism in recent years. Mayer also oversaw the £1.1bn acquisition of Tumblr - the value of which had fallen by $230m since, Yahoo said last February.

The deal comes two years after Verizon acquired the global ad tech firm- AOL for $4.4 billion in May 2015, gaining a robust programmatic and video advertising platform.

As part of the finalized deal, Yahoo chief executive Marissa Mayer will resign with a "golden parachute" worth just over $23 million, in cash, equity and benefits, according to an SEC filing.

Verizon now owns the bones of Yahoo - its core internet businesses such as Yahoo Mail, Yahoo Sports, Yahoo Finance, Yahoo News, and advertising. She will walk away from Yahoo with a compensation package now worth about $127 million, including her severance pay and stock awards that will be fully vested with the deal's completion.

"Given the inherent changes to my role, I'll be leaving the company", Mayer wrote in a note on Tumblr.

Like AT&T's bid to purchase Time Warner, Verizon's move also reflects a trend in the telecom industry for companies to Wednesday their networking technology to exclusive content.

Yahoo CEO Marissa Mayer has resigned from the company.

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By the end of a year ago, Yahoo's annual revenue after subtracting ad commissions had shrunk to $3.5 billion, a 35 percent drop from its 2008 peak.

The Verizon and Yahoo deal has been sealed and former Yahoo CEO Marissa Mayer is walking away with a pretty sweet deal.

Mayer's tenure at Yahoo was tumultuous, and some would argue that she never lived up to the hype that accompanied her after her successful stint at Google.

Under Mayer, Yahoo made one last push to prove it could be more than a fading Internet pioneer.

"They're all around us, in Silicon Valley, and around the globe", says Dan Rosensweig, chairman and CEO of Chegg, and a former COO at Yahoo.

Looked at another way, those who believe Trump will achieve significant tax reform in the near term should perhaps fill their boots with Yahoo stock.

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