Verizon Closes $4.5B Acquisition of Yahoo, Marissa Mayer Resigns

An anonymous reader shares a TechCrunch article: After Yahoo shareholder approval last week, Verizon today announced that it has finally closed its acquisition of Yahoo, which it plans to combine with its AOL assets into a subsidiary called Oath, covering some 50 media brands and 1 billion people globally. It will be led by Tim Armstrong, who was the CEO of AOL before this. As expected, Marissa Mayer, who had been the CEO of Yahoo, has resigned. "Given the inherent changes to Marissa Mayer's role with Yahoo resulting from the closing of the transaction, Mayer has chosen to resign from Yahoo. Verizon wishes Mayer well in her future endeavors," Verizon said in a statement. You can find Marissa in her own words here on Tumblr. It's a long list of the achievements made with her at the helm these last five years, and -- alas -- you will only read of the struggles that Yahoo went through between the lines. The deal, nevertheless, brings to a close the independent life of one of the oldest and most iconic internet brands, arguably the one that led and set the pace for search -- the cornerstone of doing business on the spaghetti-like internet -- at least until Google came along and surpassed Yahoo many times over, and led the company into a number of disastrous and costly attempts to redefine itself, ultimately culminating in the sale we have here today.