Verizon Communications Inc. will acquire Yahoo Inc.’s core Internet business, roughly seven months after initial reports hinted at Verizon’s interest in the company. It’s a cash deal worth approximately $4.83 billion US that will see the California-based company integrated with AOL, which was acquired by Verizon last year for more than $4 billion, according to a Monday press release. “Combining Verizon, AOL and Yahoo will create a new powerful competitive rival in mobile media, and an open, scaled alternative offering for advertisers and publishers,” the release read. Both companies have similar businesses with digital advertising and online content, with Yahoo saying it has a global audience of 1 billion monthly active users. Earlier this year, Yahoo had been shopping...
Yahoo Inc. said in its third quarter financial results that it incurred a $42 million US loss on its original TV video content. Ken Goldman, chief financial officer for Yahoo, said during an earnings conference call with analysts last week that that the $42 million US loss is due to some of its original video content, specifically the TV series Community and Sin City Saints. “We thought long and hard about it and what we concluded is certain of our original video content, we couldn’t see our way to make money over time…we had basically spent money and had some assets on...