She continued: "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".
Verizon will combine its AOL business with various Yahoo properties into a new subsidiary named Oath. The company lured Mayer away from Google in 2012 in hopes of reversing the decline, but she couldn't pull it off despite investing billions in acquisitions aimed at making Yahoo a bigger player in the mobile advertising market.
The chief executive of Yahoo, Marissa Mayer, told employees she would be resigning now that the transaction was over. After Yahoo's acquisition by Verizon closed, Mayer was due to receive an extra $23 million in compensation (see Despite Breaches, Yahoo CEO Gets Golden Parachute).
Yahoo's CEO, Marissa Mayer has also made a decision to resign from her role at Yahoo following the acquisition.
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Like AT&T's bid to purchase Time Warner, Verizon's move also reflects a trend in the telecom industry for companies to Wednesday their networking technology to exclusive content. AOL's CEO Tim Armstrong will be the CEO of Oath.
The phone company had $126 billion in revenue in 2016, but growth in its highly profitable wireless business has slowed.
But to be fair, Mayer wasn't exactly dealt a great hand when she joined Yahoo. It will also manage Yahoo's cash, cash equivalents, marketable debt securities, certain minority investments, Excalibur IP, which owns certain patent assets that were not core to the technology company's operating business.
FILE - In this February 19, 2015, file photo, Yahoo President and CEO Marissa Mayer delivers the keynote address at the first-ever Yahoo Mobile Developer's Conference, in San Francisco.
Looked at another way, those who believe Trump will achieve significant tax reform in the near term should perhaps fill their boots with Yahoo stock.