In its confirmation of Verizon's purchase of Yahoo's web assets, announced Monday morning, the Wall Street Journal describes it as a "remarkable fall" for Yahoo, once valued at more than $125 billion and now plucked up for less than 4% of that—$4.83 billion in cash. A rundown of the deal's specifics, and how it's being reported:
- Read CEO Marissa Mayer's lengthy letter to Yahooers about the "amazing opportunities [Yahoo will realize] in its next chapter" here.
- Bloomberg explains what Verizon is and isn't getting: yes to Yahoo's real estate, no to Yahoo's cash and its shares in Alibaba Group Holding.
- Business Insider reports AOL head Tim Armstrong will likely emerge as CEO of an AOL-Yahoo combo (Verizon bought AOL for $4.4 billion in 2015). It issues a warning: "The siren song of Yahoo has lured others before him. And Armstrong's desire to revive the struggling internet business may leave him blinded to the same trap as his predecessors."
- The Washington Post points out the Mayer turned down a deal to buy Yahoo two years ago—a deal Armstrong offered. It looks at what Armstrong, and Verizon, want with Yahoo.
- In her letter, Mayer writes, "For me personally, I'm planning to stay." It's unclear how long she'll stay for, or in what capacity. In a piece heralding the "saddest $5 billion deal in tech history," Forbes reports Mayer is expected to be handed a $50 million-plus severance package when she does go.
- Quartz looks at how the deal might allow Verizon to "mount a credible challenge to those two giants": Google and Facebook. The giants own about half the $69 billion US digital ad market. Verizon plus AOL plus Yahoo would claim about 5.2%.
- Recode profiles Marni Walden, the 49-year-old Verizon exec (and Armstrong boss and "rising star") who drove the deal.
- The New York Times uses a series of infographics to explain why Yahoo sold itself.
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