Verizon has announced that it's selling its Verizon Media division, which is comprised of Yahoo and AOL. The deal is worth $5 billion for a 90% stake in the company, with Verizon keeping 10%.
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Yahoo!'s nearly two decade old service will finally be shutting down next month. The company has also provided a way for users to download their chat history until the date of closure.
It's been 20 years since AOL pioneered the unique chat service. But now, the company will be shutting it down to "focus on building the next generation of iconic brands and life-changing products."
As many as 1,000 people at Oath, the resulting entity of the AOL and Yahoo merger, will face job losses, representing just under 20% of the combined workforce. The stocks weren't impacted by the news.
From Apple's apology and foldable phones, to YouTube TV, Samsung security, Android updates, bendy Nintendos, and Windows 10 Mobile malaise, it's our handy walkthrough of the week's top tech news.
When Verizon completes its acquisition of Yahoo later this year, the plan is to merge the organization with AOL to create a new company called Oath. Will the Yahoo brand live on elsewhere?
The new US Ambassador to Sweden and Liechtenstein was recently sworn in on an e-reader. Marking a new era for the ancient ceremony, Suzi LeVine became the first US patriot to use a device for an oath.