Verizon has officially closed its $US4.48 billion purchase of Yahoo, the company announced Tuesday.
Marissa Mayer, who has been Yahoo’s CEO since 2012, will step down with a $US23 million package.
Yahoo will be combined with AOL, which Verizon bought for $US4.4 billion in 2015, into a new entity called Oath. However, the Yahoo and AOL consumer brands will remain. AOL’s CEO Tim Armstrong will be the CEO of Oath.
Get the latest Yahoo stock price here.
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