Verizon Communications, a telecommunications giant<br />that was a cluster of local phone companies when two Stanford University graduate students began compiling their famous web directory in 1994, completed its purchase on Tuesday of Yahoo’s internet business for $4.48 billion.<br />Verizon Completes $4.48 Billion Purchase of Yahoo, Ending an Era -<br />By VINDU GOELJUNE 13, 2017<br />SAN FRANCISCO — It’s official: Yahoo, one of the founding companies of the internet era, is no more.<br />Although she failed to reinvent Yahoo for success in the mobile era, she was well compensated for her five years leading the company,<br />earning an average of $1 million a week as Yahoo’s share price more than tripled and the value of its Asian investments soared.<br />Oath has about 1.3 billion users who visit at least once a month,<br />and Verizon hopes to use its range of content and create new forms of advertising to attract more viewers and marketers to the platform.<br />“Now that the deal is closed, we are excited to set our focus on being the best company for consumer media,<br />and the best partner to our advertising, content and publisher partners,” Mr. Armstrong said in a statement.
