VERIZON IS NOW the official owner of Yahoo's web properties after 323 days of tortuous business and legal negotiations.
According to reports, some 2,100 current Yahoo staff can also expect to be made redundant within days.
The closure of the deal means that the 12-year tenure of CEO Marissa Mayer draws to a close with her resignation, although she will remain the head of Altaba, the rump of Yahoo that largely compromises Yahoo's 15 per cent stake in Chinese e-commerce giant Alibaba and Yahoo Japan.
"Verizon Communications today completed its acquisition of the operating business of Yahoo! Inc," the company proclaimed in a statement.
"Verizon has combined these assets with its existing AOL business to create a new subsidiary, Oath, a diverse house of more than 50 media and technology brands that engages more than a billion people around the world."
That portfolio includes the largely knackered Yahoo brands of Tumblr, Yahoo Finance, Yahoo Mail and Yahoo Sports, together with a lot of old AOL rubbish, including Huffington Post, AOL.com and MAKERS, whatever that is.
"The close of this transaction represents a critical step in growing the global scale needed for our digital media company," claimed Marni Walden, president of media and telematics (?!) at Verizon.
"The combined set of assets across Verizon and Oath, from virtual reality to artificial intelligence, 5G to the Internet of Things, from content partnerships to originals, will create exciting new ways to captivate audiences across the globe."
Mayer, meanwhile, couldn't have been more pleased to have completed the deal and trousered her tidy, multi-million dollar bonus as thanks for a job well done from grateful shareholders and staff.
"It's an emotional time for all of us. Given the inherent changes to my role, I'll be leaving the company. However, I want all of you to know that I'm brimming with nostalgia, gratitude, and optimism," wrote Mayer in her own Tumblr blog.
"It's been my great honour and privilege to be a part of this team for the last five years. Together, we have rebuilt, reinvented, strengthened, and modernised our products, our business, and our company," and flogged it to Verizon for $40bn less than Microsoft bid just nine years ago, she might have added.
However, Mayer claimed that under her tenure Yahoo become one of just three internet companies in the world with more than one billion monthly users, "dispensing" (ie: closing) 150+ "subscale products and features" and, apparently, invested in search, although you wouldn't know it if she hadn't told you.
Furthermore, while neglecting to mention the multiplicity of security failures, which helped lop $350m or so off of the price of the deal, Mayer nevertheless claimed, and not in a horse/stable/bolted kind of way: "We bolstered our security defences with cross-company initiatives like SSL, HTML5, Account Key, and HTTPS".
Perhaps most remarkable of all in Mayer's blog, she claimed that under her leadership the company increased in value by $33bn, without mentioning that this was largely down to the increasing value of its 15 per cent stake in Alibaba, which is now worth more than $40bn.
Yahoo acquired its stake in Alibaba in 2005 after co-founder Jerry Yang met Alibaba founder Jack Ma. µ
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