By Ben Chelnitsky | USA
Verizon officially bought Yahoo for around $4.5B and will merge Yahoo with AOL to create a new company called Oath, according to a USA TODAY article.
As Yahoo is now officially acquired by Verizon, Yahoo’s CEO Marissa Mayer has resigned. According to CNN Money, Yahoo CEO Marissa Mayer is taking nearly $260 million as she leaves the company.
Tim Armstrong, former CEO of AOL and now CEO of Oath, said they “are excited to set our focus on being the best company for consumer media, and the best partner to our advertising, content and publishing partners.
Oath and Verizon now appear as a fierce competitor of Google. Mayer used to work for Google, and she was hired by Yahoo five years ago. She helped Yahoo improve but was considered to have failed with the $1B acquisition of Tumblr.
The change will not significantly affect the approximately 1 billion users that use Yahoo sites.
At the Oath home page, users can click on Yahoo and AOL brands to visit their desired sites.
For those concerned about Yahoo Fantasy Sports, changes to it are not expected.