Marissa Mayer resigns as Verizon closes 4.5B deal for Yahoo [telecom]

By Ingrid Lunden

It's now official. After Yahoo shareholder approval last week, Verizon today announced that it has finally closed its acquisition of Yahoo, which it plans to combine with its AOL assets into a subsidiary called Oath, covering some 50 media brands (including TechCrunch) and

1 billion people globally. It will be led by Tim Armstrong, who was the CEO of AOL before this.

As expected, Marissa Mayer, who had been the CEO of Yahoo and recently received a $23 million 'golden parachute' for her work there, has resigned.

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Bill Horne
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