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. 

SOURCE: [ABC]

<a href="http://www.shutterstock.com/gallery-514942p1.html?cr=00&pl=edit-00">dennizn</a> / <a href="http://www.shutterstock.com/editorial?cr=00&pl=edit-00">Shutterstock.com</a>

Share
Share

Featured Articles

Create C-suite space for the Chief Transformation Officer

Responsible for driving growth and change, the Chief Transformation Officer is the latest addition to the C-suite as business undergoes major change

12 AI predictions for the enterprise in 2023 – Dataiku

With 2023 likely to be a huge year for AI, experts from AI platform provider Dataiku deliver their enterprise AI and ML trends for the year ahead

Welcome to the new breed of private members' clubs

The pandemic has given birth to a new breed of private members’ clubs where work and play merge, membership and spaces are curated, and community matters

Welcome to the New Age of the CISO

Leadership & Strategy

Making the UAE the world’s strongest digital fortress

Technology

World Mental Health Day – 10 apps to improve wellbeing

Leadership & Strategy