Verizon To Acquire Yahoo For $4.8 Billion. C.E.O. Lowell McAdam
Says This Increases Their Mobile Media Capabilities.
Yesterday the news media was all abuzz with talk of a major announcement from Yahoo (NASDAQ: YHOO) and Verizon (NYSE: VZ), that Verizon will be acquiring Yahoo for $4.8 Billion. This is part of a major bid by Verizon to become a powerful force in the business of mobile media. As reported by CNN, Verizon has slowly been expanding their involvement in mobile media for years, with the bulk of that growth having begun with their purchase of AOL in 2015 for $4.4 Billion. That same year they also launched Go90 which was their first mobile video service. And they reported that “earlier this year, Verizon also partnered with Hearst to invest in video-driven millenial-focused media companies, Complex Media and AwesomenessTV.”
Looking at all that Verizon has done to expand their involvement in the mobile media industry in recent years, really goes to show a well thought out plan by their management team, in looking to expand their brand to find more ways to monetize the ever increasing usage of their mobile networks by consumers. There will be a lot more to look for coming from Verizon as they continue to expand on these plans with further acquisitions and their C.E.O Lowell McAdam stated on Monday that with their latest acquisitions they now have more mobile media capabilities than ever before. This is a very solid time to take a look into Verizon, as we believe they may see some solid growth in share price, as they continue to expand their overall business with these new technologies and media platforms among their ranks.