ZDNet: Facebook is the AOL of 2021. “The 1990s had a word for being trapped inside a manipulative notion of human contact: AOL. Facebook and its ilk are the rebirth of that limited vision.”
Axios: Verizon sells Yahoo and AOL to private equity firm for $5 billion. “Verizon on Monday announced that it will sell its digital media unit, including Yahoo and AOL, to private equity firm Apollo Global Management. Details: Apollo will pay $5 billion for a 90% stake in the business, with Verizon retaining a 10% stake.”
CNET: Verizon takes $4.6 billion write-down on Oath . “Verizon said Tuesday the integration of Yahoo and AOL has achieved lower-than-expected benefits. As a result, Verizon expects to record a goodwill impairment charge of about $4.6 billion in the fourth quarter, the company said in a statement filed with the US Securities and Exchange Commission.” As the article notes, Yahoo’s original purchase price was $4.83 billion.
And in our “Man-do-I-feel-old,” department, from CNET: AOL’s AIM sets its away message… permanently. “AOL Instant Messenger, a popular form of communication in the early days of the internet, goes dark on Dec. 15, AOL, now a unit of Verizon’s Oath, said on Friday. AIM was once one of the dominant instant-messaging platforms on the internet, helped by the massive number of dialup subscribers using AOL internet service. After launching in 1997, it enjoyed its peak in the late ’90s and early 2000s.”
Recode: Marissa Mayer will not be part of the new AOL-Yahoo combined company called Oath. “According to sources, Yahoo CEO Marissa Mayer will not be continuing with the new company that was announced today prematurely in a tweet by AOL CEO Tim Armstrong. The new Verizon-owned entity is called Oath — we’ll get to mocking that name later in the post — and is the combination of AOL and Yahoo. It will be headed by Armstrong, who is now apparently Oath-in-Chief.” Doubt she cares because she made serious bank. Meantime, are they calling it Oath because of all the swearing?
AOL’s search is now completely Bing-powered. “According to a new blog post aimed at advertisers, the entirety of AOL’s search needs are now being fulfilled by Bing, with Microsoft’s search engine covering web, mobile, tablet as well as paid and algorithmic queries.”