SoftBank pays $1.6 bln for Yahoo Japan rights
The Hindu
Verizon is offloading its media businesses including Yahoo and AOL to private equity firm Apollo Global after struggling to compete with internet giants in a $5 billion deal set to close in the second half of this year.
SoftBank's internet business Z Holdings Corp said on Monday it has agreed to pay Verizon Communications Inc 178.5 billion yen ($1.61 billion) to secure the rights to Yahoo branding and technology in perpetuity in Japan. (Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) In contrast to the retreat of Yahoo in the United States, the brand remains a core part of SoftBank's domestic internet business where the name adorns a web portal and services like shopping and weather.
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