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    Verizon Reportedly Buying Yahoo For $5 Billion

    By SHOOTUpdated:No Comments1939 Views
    In this Nov. 5, 2014, file photo, a person walks in front of a Yahoo sign at the company's headquarters in Sunnyvale, Calif. (AP Photo/Marcio Jose Sanchez, File)

    By Ken Sweet & Michael Liedtke

    NEW YORK (AP) --

    Verizon has agreed to buy online portal Yahoo Inc. for roughly $5 billion, according to multiple media reports, each citing a single unnamed source.

    The deal is expected to be announced formally on Monday before markets open, the reports said.

    Verizon had emerged in recent days as the front-runner for the beleaguered internet company. Yahoo is expected to sell its email service and news, finance and sports websites in addition to its advertising tools under pressure from shareholders fed up with a downturn in the company's revenue during the past eight years.

    The deal is likely to end the four-year reign of Yahoo CEO Marissa Mayer, a former Google executive who flopped in her attempts to turn around the Sunnyvale, California, company.

    Yahoo has been in a long, deep slump even as advertisers have been pouring more money into what is now a $160 billion market for digital advertising, according to research firm eMarketer.

    Most of that money has been flowing to internet search leader Google and social networking giant Facebook. They are two of several companies that have eclipsed Yahoo, who slid from an online sensation once valued at $130 billion to a dysfunctional also-ran. Yahoo attempted to buy both companies while in their infancy.

    After the sale is completed, Yahoo will become a holding company for its two stakes in China's e-commerce leader, Alibaba Group, and Yahoo Japan, which is where the majority of Yahoo's market value comes from.

    Yahoo declined to comment on the reports. A spokesman for Verizon did not return requests for comment.

    Sweet contributed to this story from New York. Liedtke contributed to this story from San Francisco.

    Category:News
    Tags:verizonYahoo



    Producers Douglas Wick and Lucy Fisher To Receive Harold Lloyd Award From The Advanced Imaging Society

    Saturday, December 21, 2024

    Producers Douglas Wick and Lucy Fisher will be presented with the 2025 Harold Lloyd Award in recognition of their producing achievement in creating Gladiator II at The Advanced Imaging Society’s (AIS) 15th annual Lumiere Awards luncheon, which takes place Friday, February 7, 2025, at the Beverly Hills Hotel.

    Empowering their storytelling with groundbreaking technology and skill, Wick and Fisher have thrilled audiences and driven the film industry forward for three decades. Their steadfast dedication to the highest standards of cinematic excellence have resulted in epic films, including Memoirs of a Geisha, The Great Gatsby, the Stuart Little franchise, the Divergent Series and both Gladiator films. The first Gladiator earned Wick an Academy Award® for Best Picture. In light of their consistent and distinguished contributions over the years, as exemplified by this year’s Gladiator II, the Advanced Imaging Society wished to recognize the team with this year’s esteemed Harold Lloyd Award.

    “Doug Wick and Lucy Fisher of Red Wagon Entertainment have revolutionized modern filmmaking with their bold storytelling and ability to elevate large-scale productions to epic levels,” remarked Jim Chabin, AIS president. “Their work has not only captivated audiences but also redefined filmmaking standards, leaving an indelible mark on the art of cinema. At AIS. we deeply admire their visionary contributions and enduring influence on the film industry.”

    Suzanne Lloyd, granddaughter of the late, great Harold Lloyd, remarked, “Doug’s artistic vision and Lucy’s dynamic leadership have brought authenticity, beauty and profound emotion to some of our favorite epic films. Together, they are a... Read More

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