TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentral TechCentral
    NEWSLETTER
    • News

      Alviva shares leap higher on R3-billion take-private offer

      30 June 2022

      Datatec to sell Analysys Mason for as much as R4.1-billion

      30 June 2022

      Futuregrowth launches start-up fund, targets R600-million raise

      30 June 2022

      Eskom is killing the rand

      30 June 2022

      Eskom ramps up load shedding as crisis deepens

      30 June 2022
    • World

      Graphics card prices plummet as crypto demand dries up

      30 June 2022

      Bitcoin just had its worst quarter in a decade

      30 June 2022

      Samsung beats TSMC to 3nm chip production

      30 June 2022

      Napster plots crypto comeback

      29 June 2022

      Pictures: Chinese spacecraft acquires images of entire planet of Mars

      29 June 2022
    • In-depth

      The NFT party is over

      30 June 2022

      The great crypto crash: the fallout, and what happens next

      22 June 2022

      Goodbye, Internet Explorer – you really won’t be missed

      19 June 2022

      Oracle’s database dominance threatened by rise of cloud-first rivals

      13 June 2022

      Everything Apple announced at WWDC – in less than 500 words

      7 June 2022
    • Podcasts

      How your organisation can triage its information security risk

      22 June 2022

      Everything PC S01E06 – ‘Apple Silicon’

      15 June 2022

      The youth might just save us

      15 June 2022

      Everything PC S01E05 – ‘Nvidia: The Green Goblin’

      8 June 2022

      Everything PC S01E04 – ‘The story of Intel – part 2’

      1 June 2022
    • Opinion

      Has South Africa’s advertising industry lost its way?

      21 June 2022

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022

      A proposed solution to crypto’s stablecoin problem

      19 May 2022

      From spectrum to roads, why fixing SA’s problems is an uphill battle

      19 April 2022

      How AI is being deployed in the fight against cybercriminals

      8 April 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»World»AOL chief hopeful Yahoo deal will still close

    AOL chief hopeful Yahoo deal will still close

    World By Agency Staff6 December 2016
    Facebook Twitter LinkedIn WhatsApp Telegram Email

    yahoo-640

    Verizon’s US$4,8bn deal to acquire Yahoo and merge it with AOL has stalled following a widespread hack of 500m Yahoo users. But AOL CEO Tim Armstrong believes the deal will ultimately close.

    “I’m cautiously optimistic that it will happen,” Armstrong told attendees of Business Insider’s Ignition Conference. “The companies are working well together. There’s been a constructive dialogue around things like the data breach that need to get resolved.”

    Verizon emerged as the winning bidder for Yahoo after the flagging giant underwent a lengthy auction process. But two months later, Yahoo revealed that it had been subject to a large breach of security in 2014, putting the deal in jeopardy.

    Armstrong, who has been leading the integration with Yahoo alongside Verizon’s Marni Walden, said the two companies had been setting up a merger strategy when the data breach was made public, a turn of events that “slowed things down a bit”.

    But he noted that they are proceeding with planning the deal, and expect to begin laying out the structure of the combined company.

    Armstrong also expects Yahoo CEO Marissa Mayer to remain with the company. “I’m hopeful that as we go forward that Marissa will play a role in getting Yahoo to the next iteration and next generation of what Yahoo’s going to be,” he said, calling Yahoo’s recent presentation of its 2017 strategy “impressive”.

    AOL recently announced plans to lay off 500 employees. It’s a move that Armstrong said would have happened regardless of the Yahoo deal and was instead the result of a string of deals that AOL has made to acquire smaller companies since it was bought by Verizon in 2015 for $4,4bn. He said those cuts should carry AOL through 2017 but added that “we’ve said there will be synergies when we did the deal” for Yahoo.

    Armstrong spoke at the conference ahead of Arianna Huffington, who just recently left her post at AOL as president of The Huffington Post Media Group to launch wellness start-up Thrive Global.

    When asked about The Huffington Post’s treatment of the 2016 presidential election — the website appended an editor’s note to stories about Donald Trump that included describing him as a “serial liar”, “racist” and “misogynist” — Armstrong called the coverage “differentiated and bold”.  — (c) 2016 Bloomberg LP

    AOL Arianna Huffington Marissa Mayer Tim Armstrong Verizon Yahoo
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleRed flags as audit firms get into IT
    Next Article Backspace: ‘In the spirit’

    Related Posts

    Graphics card prices plummet as crypto demand dries up

    30 June 2022

    Bitcoin just had its worst quarter in a decade

    30 June 2022

    Samsung beats TSMC to 3nm chip production

    30 June 2022
    Add A Comment

    Comments are closed.

    Promoted

    Billetterie simplifies interactions between law firms and clients

    30 June 2022

    Think herding cats is tricky? Try herding a cloud

    29 June 2022

    How your business can help hybrid workers effectively

    28 June 2022
    Opinion

    Has South Africa’s advertising industry lost its way?

    21 June 2022

    Rob Lith: What Icasa’s spectrum auction means for SA companies

    13 June 2022

    A proposed solution to crypto’s stablecoin problem

    19 May 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.