Yahoo is now officially Verizon's problem and Marissa Mayer waves goodbye

Verizon today reveals that it has completed the acquisition of Yahoo, nearly a year after announcing the deal. Big red initially agreed to pay $4.83 billion, but after the massive security breach that resulted in over one billion hacked accounts was disclosed to the public the value dropped to $4.48 billion.

What is interesting is that Yahoo will not operate as an individual subsidiary, as you might expect. Instead, Verizon will combine it with AOL under a different brand, called Oath, which it describes as a "diverse house of more than 50 media and technology brands that engages more than a billion people around the world."

Oath, Verizon says, will be part of its Media and Telematics organization, and will be led by former AOL CEO Tim Armstrong. Armstrong has also led the Yahoo integration efforts after the deal was announced last year.

"The combined set of assets across Verizon and Oath, from VR to AI, 5G to IoT, from content partnerships to originals, will create exciting new ways to captivate audiences across the globe," says Armstrong. "Now that the deal is closed, we are excited to set our focus on being the best company for consumer media, and the best partner to our advertising, content and publisher partners."

Also worth noting is that Marissa Mayer will no longer be in the picture, having quit as a result of the acquisition being finalized. Verizon says that this was Mayer's choice. We've actually known for a few months that Mayer will not run Yahoo under Verizon, which is not exactly a blow given that her compensation package is worth around $186 million based on a New York Times report.

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