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.

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SOURCE: [ABC]

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