Verizon To Buy Yahoo For Chump Change

Verizon To Buy Yahoo For Chump Change

Tomorrow morning, Verizon will announce their plan to buy Yahoo’s core assets for a pitiful $US4.8 ($6) billion according to “two people with direct knowledge of the situation,” Bloomberg reports. Considering that at the peak of their success, Yahoo was valued at $US125 ($167) billion, this is yet another benchmark moment in the company’s fall from grace. In 2008, the company rejected Microsoft’s offer to buy them for $US44 ($59) billion.

Since this is just the sale of Yahoo’s core assets, the company will still have its Alibaba stake and Yahoo Japan Corp., which Bloomberg estimates is worth over $US40 ($54) billion.

Marissa Mayer is expected to resign, and while she might feel embarrassed about her manyfailures as CEO, she stands to make a nice $US57 ($76) million in severance, according to the New York Times.

What will Marissa do with that $US57 ($76) million? We can only hope she invests in more Zamboni-related activities.

[Bloomberg, New York Times]