Verizon takes over Yahoo to complete $4.5 billion deal
SAN FRANCISCO (AP) — Verizon has taken over Yahoo, completing a $4.5 billion deal that will usher in a new management team to attempt to wring more advertising revenue from one of the internet's best-known brands.
The suits include complaints tied to computer hacking attacks that stole personal information from more than 1 billion Yahoo user accounts in 2013 and 2014 but weren't disclosed until last year.
Verizon is counting on the combination of Yahoo and AOL to build a strong third alternative in a rapidly growing digital advertising market that is currently dominated by Google and Facebook.
The company lured Mayer away from Google in 2012 in hopes of reversing the decline, but she couldn't pull it off despite investing billions in acquisitions aimed at making Yahoo a bigger player in the mobile advertising market.