Yahoo: business as usual for Australian operations following Verizon takeover

By Harry Allan

Yahoo's Australian operations will remain the same for now, according to its owner. This comes after Verizon - one of the biggest US telcos - acquired company’s core US assets.

Seven West Media, which has run Yahoo7 as a 50-50 joint venture with Yahoo for a decade, expects to hold talks with Verizon on its plans for Yahoo in Australia over the next six to nine months.

"Seven West Media has a number of positive options that will define its future development and success in digital media, building on its already highly successful development over the past few years," the company said in a statement to the ASX.

Verizon is paying around $6.5 billion for the majority of Yahoo, except for its successful stakes in Yahoo Japan and the Chinese e-commerce giant Alibaba, as well as some patents.

Verizon is planning to merge Yahoo's search, email, messenger and advertising technology businesses with AOL, which it acquired last year.

The future of current chief executive Marissa Mayer is unclear, but in a statement on her Tumblr, she said she was planning to stay with the company.

Business Review Australia & Asia's July issue is now live.

Follow @BizReviewAU and @MrNLon on Twitter. 

Business Review Australia is also on Facebook. 


<a href="">dennizn</a> / <a href=""></a>


Featured Articles

Nirvik Singh, COO Grey Group on adding colour to campaigns

Nirvik Singh, Global COO and President International of Grey Group, cultivating culture and utilising AI to enhance rather than replace human creativity

How Longi became the world’s leading solar tech manufacturer

On a mission to accelerate the adoption of sustainable energy solutions, US$30 billion Chinese tech firm Longi is not just selling solar – but using it

How Samsung’s US$5billion sustainability plan is working out

Armed with an ambitious billion-dollar strategy, Samsung is on track to achieve net zero carbon emissions company-wide by 2050 – but challenges persist

UOB: making strides in sustainability across Southeast Asia


Huawei smartwatch goes for gold with Ultimate Edition


How IKEA India plans to double business, triple headcount

Corporate Finance