Verizon Completes $4.5 Billion Takeover of Yahoo

NEC member Verizon recently completed a $4.5 billion deal to take over Yahoo.

The deal will consolidate Yahoo’s email and digital services with various AOL services under a new Verizon subsidiary company called Oath. Oath will be run by Tim Armstrong, former CEO of AOL. The deal is expected to give Verizon a stronger digital advertising market through Yahoo and AOL services. Verizon announced plans to begin preinstalling or adding various Oath apps when customers buy a phone from Verizon Wireless.

“We’re building the future of brands using powerful technology, trusted content and differentiated data. We have dominating consumer brands in news, sports, finance, tech, and entertainment and lifestyle coupled with our market leading advertising technology platforms,” said Oath CEO Tim Armstrong. “Now that the deal is closed, we are excited to set our focus on being the best company for consumer media, and the best partner to our advertising, content and publisher partners.”

The New England Council congratulates Verizon on the completion of this deal and the expanded services Verizon plans for customers. Read more in The New York Times and The Boston Globe.

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