Acquisition of AOL and Yahoo[edit]
On May 12, 2015, Verizon announced it would acquire AOL at $50 per share, for a deal valued around $4.4 billion.[135][136] The following year, Verizon announced it would acquire the core internet business of Yahoo! for $4.83 billion.[15][137][138] Following the completion of the acquisitions, Verizon created a new division called Oath, which includes the AOL and Yahoo brands.[16] The sale did not include Yahoo's stakes in Alibaba Group and Yahoo! Japan.[139][140]
On March 16, 2017, Verizon announced it would discontinue the e-mail services provided for its internet subscribers and migrate them to AOL Mail.[141]
On May 23, 2017, Verizon CEO Lowell McAdam confirmed the company's plan to launch a streaming TV service.[142] The integrated AOL-Yahoo operation, housed under the newly created Oath division, would be organized around key content-based pillars.[143]
On June 13, 2017, Verizon completed its acquisition of Yahoo for $4.48 billion.[144]
In May 2021, Verizon announced that its media group, including AOL and Yahoo, would be sold to Apollo Global Management for $5 billion,[145] with Verizon retaining a 10% stake in the division.[146]
Finances
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