It is now official, Verizon has completed its long awaited purchase of Yahoo, for only $4.48B – cheap for what was one of the Internet’s cornerstone properties.  Mayer, is out, but she can take some consolation with her $23M package.   Tim Armstrong steps into her shoes to run the combined Yahoo+AOL entity that will be called Oath.

Not all good news mind you – 2100 employees are about to get pink slips as the two companies combine.  Definitely be interesting to see where this goes.  Armstrong is no stranger to media platforms, having run a newspaper prior to joining Google then AOL.

Verizon has officially closed its $4.48 billion purchase of Yahoo, the company announced Tuesday.

Marissa Mayer, who has been Yahoo’s CEO since 2012, will step down with a $23 million package.

via Verizon closes Yahoo purchase – Business Insider