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Verizon rolls out new rural home internet plan

The carrier is targeting customers in rural areas of the U.S. who have limited or no broadband

Verizon has announced that it’s deploying a new home internet service called LTE Home Internet, which will use its 4G LTE wireless network, in several rural communities. 

Starting Thursday, the service will be available in Savannah, Georgia; Springfield, Missouri; and the Tri-Cities region of Tennessee, Virginia, and Kentucky -- areas that aren’t currently offered Verizon’s Fios or 5G Home options.

Consumers who use LTE Home Internet can get unlimited data and internet do...

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    Verizon finally closes on acquisition of Yahoo

    Experts say around 2,100 employees will lose their jobs in the transition

    The long-awaited acquisition deal of Yahoo by Verizon finally reached a conclusion on Thursday after Yahoo shareholders approved the sale of the business. That means on Tuesday, Yahoo will officially become Altaba, which will take the cash from the sale and Yahoo’s holdings in Yahoo Japan and Alibaba group.

    Unfortunately, the closing of the deal isn’t going to be good news for everyone. TechCrunch reports that Verizon will cut around 15% of the staff from Yahoo and AOL after the merger closes, eliminating around 2,100 redundant jobs between the companies. The new combined entity, named Oath, will be headed by AOL CEO Tim Armstrong.

    “Oath’s strategy is to lead the global brand space. With access to over 1 billion consumers upon close, we will be positioned to drive one of the most important platforms in the consumer brand space. Consistent with what we have said since the deal was announced, we will be aligning our global organization to the strategy,” said an AOL spokesperson.

    Long road

    Verizon’s acquisition of Yahoo faced many bumps in the road on its way to finality. An initial deal was struck between the companies last July for $4.8 billion, but the waters were muddied after news broke that Yahoo had experienced two large-scale data breaches affecting over 1.5 billion user accounts.

    Verizon executives immediately backed off from the deal, saying that they needed more information about the breaches before the deal could continue. Rumors even circulated for some time that the company was seeking a $1 billion discount on its purchase.

    Pressure from shareholders mounted for both companies, and eventually Verizon settled for a price cut of around $350 million and a promise that Yahoo would share responsibility for any legal ramifications connected to the breaches.  

    After the vote on Thursday, the New York Times reports that Yahoo’s share price rose by $5.16, closing at $55.71. That’s at least some relief to the Yahoo employees who will lose their jobs in the transition, since it will increase the payouts they’ll earn on stock options.

    The long-awaited acquisition deal of Yahoo by Verizon finally reached a conclusion on Thursday after Yahoo shareholders approved the sale of the business....

    Verizon to name Yahoo/AOL merger 'Oath'

    The entity will be created pending a successful acquisition deal

    You could say that Yahoo has been having a rough time of it lately. Two massive data breaches totaling over 1.5 billion in 2016 have mired it in a PR nightmare that initially put its acquisition by Verizon in a very tenuous position.

    However, despite the experts who spelled doom for the deal, Yahoo continued business as usual, going as far as to come up with a new name for core internet business that would be left over after a successful acquisition. The new company, called Altaba, would be made up primarily of Yahoo Japan and popular Chinese online marketplace Alibaba.

    Although the deal has yet to be finalized, it seems that Verizon is also getting in on the naming action. The company plans to merge the newly acquired Yahoo business with AOL and call it Oath. AOL CEO Tim Armstrong confirmed the new name in a Twitter post this Monday afternoon.

    The newly formed entity will reportedly take Yahoo’s search, mail, content, and ad-tech business and combine it with AOL’s existing internet business under Marni Walden, executive vice president and president of product innovation and new businesses. Company officials believe that the new division will allow it to make a splash in the digital advertising market.

    "In the summer of 2017, you can bet we will be launching one of the most disruptive brand companies in digital," said an AOL spokeswoman.

    The Yahoo/Verizon acquisition deal is slated to close sometime in the second quarter of 2017, possibly sometime within the next month. If the deal doesn’t close by April 24th, the parties will be able to seek a three-month extension, or it can be terminated outright. 

    You could say that Yahoo has been having a rough time of it lately. Two massive data breaches totaling over 1.5 billion in 2016 have mired it in a PR night...

    Yahoo and Verizon reportedly move closer to a deal

    The latter may ask for a $250 million discount and will share ongoing legal responsibility for recent data breaches

    The Yahoo and Verizon acquisition deal has faced many bumps in the road since the deal was first struck last July. In September, details on Yahoo’s data breach of 500 million accounts were made public and threatened the security of the arrangement.

    Unfortunately, things only seemed to escalate from there. Rumors circulated that Verizon was seeking a $1 billion discount on the deal, and executives stated that they needed more information before things could move forward. Then, in December, a separate data breach of one billion user accounts was revealed, and many experts proclaimed that the acquisition was as good as dead.

    However, Verizon hasn’t left the negotiating table, and now sources are saying that a new deal could be imminent. Bloomberg quotes sources close to the matter as saying that Verizon is close to renegotiating a deal that would reduce the original $4.8 billion price tag by about $250 million.

    Additionally, sources say that Yahoo’s renamed entity Altaba would share ongoing legal responsibilities related to the data breaches. While a specific timetable for the announcement has not been set, and the deal could be renegotiated further, sources say the deal could be announced as soon as a few days or as late as a few weeks from now.

    Cementing a deal

    Yahoo has been under pressure to cement the deal for some time. CEO Marissa Mayer, who was brought in specifically to turn things around for the struggling company, has been at the helm as each data breach was publicized. However, earlier reports suggest that she will be stepping down as a director pending a successful acquisition deal.

    Verizon has faced a different sort of pressure connected to the deal. Yahoo’s platform of one billion users would greatly help the company expand into the mobile media and advertising markets, but some shareholders may be leery about doing business with a company that has suffered so much scandal in such a short amount of time. However, ultimately, those same shareholders would have to approve a revised deal before it could go forward.

    On news of the deal, Yahoo’s stock jumped 2% to $45.93 just before 11:00 a.m. Consequently, Verizon shares slipped 0.7% to $47.95. 

    The Yahoo and Verizon acquisition deal has faced many bumps in the road since the deal was first struck last July. In September, details on Yahoo’s data br...