Yahoo shareholders give Verizon sale the green light
The sale's expected to go through on June 13.
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Jessica Dolcourt is a passionate content strategist and veteran leader of CNET coverage. As Senior Director of Commerce & Content Operations, she leads a number of teams, including Commerce, How-To and Performance Optimization. Her CNET career began in 2006, testing desktop and mobile software for Download.com and CNET, including the first iPhone and Android apps and operating systems. She continued to review, report on and write a wide range of commentary and analysis on all things phones, with an emphasis on iPhone and Samsung. Jessica was one of the first people in the world to test, review and report on foldable phones and 5G wireless speeds.
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There's now one less roadblock in the way of Yahoo's business joining the Verizon fold.
Stockholders approved Yahoo's sale to Verizon in a special shareholder's meeting Thursday. The plan is for Yahoo and AOL to merge together under a new media division within Verizon called Oath.
It's reported that the merger will result in 1,000 layoffs as part of the process of pruning down overlapping jobs, a figure said to be less than 20 percent of the total workforce.
Yahoo said in a statement it expects the sale to go through on June 13, less than a week from today. After Verizon absorbs Yahoo's operating business, the company will change its name to Altaba Inc. and become an investment company.