It’s finally done. Verizon has officially completed its $4.48 billion purchase of Yahoo’s core internet business. The sale comes almost a year after Verizon and Yahoo initially agreed on the acquisition. The deal was almost derailed earlier this year, after revelations that Yahoo had been the victim of massive data breaches on more than one occasion. (Verizon ultimately settled for a $350 million reduction in Yahoo’s acquisition price.) CEO Marissa Mayer has resigned from the company. Tim Armstrong, previously the CEO of AOL, will now serve as CEO of Oath, a newly-created organization made up of Yahoo and AOL’s tech and media brands. Armstrong confirmed that the company plans to lay off about 2,100 of Yahoo and AOL’s roughly 14,000 staff-members – about 15% of workers all told. As previously announced, what remains of Yahoo Inc. – including a 15% equity stake in Alibaba and a 36% stake in Yahoo Japan – will now be a new company called Altaba Inc. Thomas McInerney, a former CFO of IAC, will serve as CEO of Altaba.
Whoopi Goldberg and cast mates will take The Stand on CBS All Access Dec. 17
The Stand, CBS All Access’ television adaptation of the storied 1978 Stephen King novel, will debut December 17. Starring Whoopi Goldberg, Alexander Skarsgard, James Marsden, Odessa Young, Jovan Adepo and Amber Heard, the limited series unfolds around King’s apocalyptic struggle between good and evil after a plague destroys most of the country. Ben Cavell serves […]
McKinnon lands unprecedented Exotic deal
Get ready cats and kittens. Joe Exotic (working title), UCP’s limited series starring and exec-produced by Kate McKinnon, scored a straight-to-series order by both the NBCU television and streaming divisions. In an unprecedented move, project will roll out across broadcast net NBC, streamer Peacock, and a basic cable net USA. Series is based on the […]
Cat’s meow: Quaid will star in his own animal rescue story
Dennis Quaid is the cat’s meow. He’s partnering with ITV America’s Leftfield Pictures for unscripted TV project Saving Dennis Quaid, which he’ll star in and exec produce. Project documents the animal lover’s recent headline-making pet rescue where he and partner Jimmy Jellinek set out on a mission to adopt a 6-year-old black cat from Lynchburg, […]
Turner Sports Shaq’s up
Big news at Turner Sports, as the company lands a multiyear extension of its partnership with Shaquille O’Neal. Shaq’s expanded role gains the Basketball Hall of Famer more airtime, including on TNT’s Inside the NBA and NBA on TNT, as well as contributions to NBA.com. He also will develop projects throughout the WarnerMedia portfolio including […]
The Tonys go digital
The 74th Annual Tony Awards ceremony will go on, presented digitally sometime in the fall. Date and platform are TBA. The event had originally been scheduled for June 7, but was replaced by plans for a streaming special on the same date due to COVID-19. That special was postponed amid unrest over the George Floyd […]
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