Verizon Buys Yahoo's Search Advertising Arm

Verizon Communications has bought Yahoo's search advertising operations for 5 billion US dollars. Marissa Mayer, chief executive of Yahoo, said that Yahoo had changed the world and “will continue to do so through this combination with Verizon and AOL”. Mayer also said in an internal email that she planned to stay at the company. The American internet company announced earlier this year that it was looking towards “strategic alternatives” for its internet business. Since 2012, when Mayer took the role of chief executive, the company has failed to return to profit, with Yahoo reporting a 440 million US dollar loss in the second quarter of this year. Verizon has also recently bought AOL for 4.4 billion US dollars, giving it ownership of the Huffington Post, TechCrunch and other online news outlets.