NEW YORK (AP) – Verizon has taken over Yahoo, completing a $4.5 billion deal that will usher in a new management team to attempt to wring more advertising revenue from one of the internet’s best-known brands.
Tuesday’s closure of the sale ends Yahoo’s 21-year history as a publicly traded company. It also ends the nearly five-year reign of Yahoo CEO Marissa Mayer, who isn’t joining Verizon.READ MORE: Assistant Chief Of Police Operations Gary Tittle New Top Cop In Richardson
Yahoo’s email and other digital services will be run by Tim Armstrong, who has been in charge of AOL. Armstrong is now CEO of a new Verizon subsidiary called Oath, which will consist of Yahoo and AOL services.READ MORE: Blue Mound Police: Meth, Cocaine, Heroin Among Drugs Found After 'Routine' Traffic Stop
Verizon won’t be getting Yahoo’s prized stakes in two Asian internet companies, Alibaba Group and Yahoo Japan. Those will belong to a newly formed company called Altaba.MORE NEWS: Railroad Inspector Tremelle Sykes Charged With Lying About Inspections In Texas
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