The future of Yahoo’s internet business under telecom titan Verizon has become a lot clearer after reports that it is to merge with AOL later this year. Yahoo CEO Larissa Mayer will quit the company’s board.The internet business of Yahoo and AOL would be combined into a unit called Oath, US media reports said Tuesday. A price cut early this year kept Verizon on track to finalize the purchase of Yahoo’s internet service and share the costs for a pair of terrible hacks that threatened to derail the transaction. The internet service reported a loss of $214 million (200 million euros) last year on revenue that inched up to $5.2 billion from $5 billion in 2015. Yahoo chief Larissa Mayer is to quit the company’s board after the merger with Verizon and the creation of Oath.

Source: Daily News Egypt April 04, 2017 12:33 UTC