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Once Valued at $125B, Yahoo's Web Assets To Be Sold To Verizon For $4.83B, Companies Confirm
The reports were spot on. Verizon Communications on Monday announced that it plans to purchase Yahoo's Web assets for a sum of $4.83 billion in cash. The multi-billion dollars deal will get Verizon Yahoo's core internet business and some real estate. The announcement also marks a remarkable fall for the Silicon Valley web pioneer, which once had a market capitalization of more than $125 billion. For Verizon, the deal adds another piece to the mammoth digital media and advertising empire it owns. The deal is expected to close early 2017. CNBC reports: The transaction is seen boosting Verizon's AOL internet business, which the company acquired last year for $4.4 billion, by giving it access to Yahoo's advertising technology tools, as well as other assets such as search, mail, messenger and real estate. It also marks the end of Yahoo as an operating company, leaving it only as the owner of a 35.5 percent stake in Yahoo Japan, as well as its 15 percent interest in Chinese e-commerce company Alibaba. In December, Yahoo scrapped plans to spin off its Alibaba stake after investors worried about whether that transaction could have been carried out on a tax-free basis. It instead decided to explore a sale of its core assets, spurred on by activist hedge fund Starboard Value. Forbes has called it one of the "saddest $5B deals in tech history."Yahoo CEO Marissa Mayer, who was expected to leave -- or get fired -- said she intends to stay. "For me personally, I'm planning to stay," Mayer said in a note on Yahoo's Tumblr page. "I love Yahoo, and I believe in all of you. It's important to me to see Yahoo into its next chapter."
Twitter should be the next one to watch. They've only got around $550m in assets and just blew $200m on a tech company to fold into theirs, that of course led to a very small stock bump of around $1.25/share, which is already declining. Keep in mind they're burning through around $125m yearly in losses. Anyone want to take a bet who will buy them up? I can't think of any company that would, especially with the self-imposed trashing of their own brand they've been going on for the last year.
Om, nomnomnom...
1) Fiorina has not declared bankruptcy.
2) HP did not declare bankruptcy under Fiorina.
3) Hillary Clinton has not had to declare bankruptcy.
Meanwhile, Trump has had four bankruptcies and is the subject of multiple class action suits over the scam that was Trump University.
If the only choice is between a disaster that doesn't bankrupt the country and an apocalypse that does, I'll take the disaster.
Melissa will get a big bonus most likely paid by the new owners, because they'll have paid her a bonus to encourage her to do the deal.
Very similar to the deal Elop got for gutting Nokia, locking it into a Microsoft world where it was doomed to fail and yet he got a big fat bonus (paid from the *merged* company, i.e. from Microsoft) for doing the deed.
To me Nokia was far sadder, it went from the top slot in the smartphone industry to virtually bankrupt in the space of one obviously malicious CEO. Whereas Yahoo was vapour valuation to less vapour in one obviously incompetent CEO.
http://communities-dominate.blogs.com/brands/2012/07/the-sun-tzu-of-nokisoftian-microkia-mirror-mirror-on-the-wall-whose-the-baddest-of-them-all-waterloo.html
If the only choice is between a disaster that doesn't bankrupt the country and an apocalypse that does, I'll take the disaster.
Ahh, yes, everyone's favorite chestnut. You HAVE to vote for one of the two establishment candidates or it's throwing your vote away. That's right, in America, relatively intelligent people open admit that voting for a "disaster" rather than a consistent, self-made millionaire who wants to get reduce the power of the central banks is the only way to have a real say. Gag me!
Wow! A whole 10%! What a disaster...oh by the way, you were subsidizing the poors healthcare anyway. Where do you think it came from? The magic fairy tree?
For all of the bluff and bluster of the anti-Romneycare folks, the USA was in a positive feedback loop of the poorest using emergency rooms as basic healthcare - the most expensive healthcare in the world. The costs were passed up the foodchain, and as you note, subsidized by us via larger insurance premiums. What was happening was as the premiums were increasing the people who were increasingly unable to afford healthcare was increasing, which was moving more to the emergency room model of healthcare, which was then charged upwards .......
The health insurance system in use was going to die in a few years, and we would have ended up with the weirdest Universal healthcare system imaginable.
The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
I thought the $125 billion evaluation was of its core business back around the year 2000 or so, and predated the Alibaba investment. So the core business was valued at $125 billion, now the core business is valued around $5 billion. Neither number includes Alibaba.