Verizon to acquire Yahoo’s operating business

Transaction will create a new rival in mobile media technology reaching over 1B users* with an unrivaled roster of the world’s most beloved brands

BASKING RIDGE, NJ, and SUNNYVALE, Calif. – July 25, 2016 – Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Yahoo! Inc. (Nasdaq: YHOO) today announce they have entered into a definitive agreement under which Verizon will acquire Yahoo’s operating business for approximately $4.83 billion in cash, subject to customary closing adjustments.

Yahoo informs, connects and entertains a global audience of more than 1 billion monthly active users** — including 600 million monthly active mobile users*** through its search, communications and digital content products. Yahoo also connects advertisers with target audiences through a streamlined advertising technology stack that combines the power of their data, content and technology.

“Just over a year ago we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertisers. The acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising.”

Lowell McAdam, Verizon Chairman and CEO

Yahoo will be integrated with AOL under Marni Walden, EVP and President of the Product Innovation and New Businesses organization at Verizon.

“Yahoo is a company that has changed the world, and will continue to do so through this combination with Verizon and AOL. The sale of our operating business, which effectively separates our Asian asset equity stakes, is an important step in our plan to unlock shareholder value for Yahoo. This transaction also sets up a great opportunity for Yahoo to build further distribution and accelerate our work in mobile, video, native advertising and social.”

Marissa Mayer, CEO of Yahoo

Mayer added, “Yahoo and AOL popularized the Internet, email, search and real-time media. It’s poetic to be joining forces with AOL and Verizon as we enter our next chapter focused on achieving scale on mobile. We have a terrific, loyal, experienced and quality team, and I couldn’t be prouder of our achievements to date, including building our new lines of business to $1.6 billion in GAAP revenue in 2015. I’m excited to extend our momentum through this transaction.”

“Our mission at AOL is to build brands people love, and we will continue to invest in and grow them. Yahoo has been a long-time investor in premium content and created some of the most beloved consumer brands in key categories like sports, news and finance.”

Tim Armstrong, CEO of AOL

Under Armstrong, AOL has invested in and grown global premium brands, including The Huffington Post, TechCrunch, Engadget, MAKERS and, and market-leading programmatic platforms — including ONE by AOL for both advertisers and publishers.

Armstrong added, “We have enormous respect for what Yahoo has accomplished: this transaction is about unleashing Yahoo’s full potential, building upon our collective synergies, and strengthening and accelerating that growth. Combining Verizon, AOL and Yahoo will create a new powerful competitive rival in mobile media, and an open, scaled alternative offering for advertisers and publishers.”

The addition of Yahoo to Verizon and AOL will create one of the largest portfolios of owned and partnered global brands with extensive distribution capabilities. Combined, AOL and Yahoo will have more than 25 brands in its portfolio for continued investment and growth. Yahoo’s key assets include market-leading premium content brands in major categories including finance, news and sports, as well as one of the most popular email services globally with approximately 225 million monthly active users****. Additional technology assets in the advertising space include Brightroll, a programmatic demand-side platform; Flurry, an independent mobile apps analytics service; and Gemini, a native and search advertising solution.

The deal is subject to customary closing conditions, approval by Yahoo’s shareholders, and regulatory approvals, and is expected to close in Q1 of 2017. Until the closing, Yahoo will continue to operate independently, offering and improving its own products and services for users, advertisers, developers and partners.

Verizon will generally issue cash-settled Verizon RSUs for Yahoo RSUs that are outstanding at the close.

The sale does not include Yahoo’s cash, its shares in Alibaba Group Holdings, its shares in Yahoo Japan, Yahoo’s convertible notes, certain minority investments, and Yahoo’s non-core patents (called the Excalibur portfolio). These assets will continue to be held by Yahoo, which will change its name at closing and become a registered, publicly traded investment company. Yahoo will provide additional information about the investment company at a future date.
Transaction will create a new rival in mobile media technology reaching over 1B users* with an unrivaled roster of the world’s most beloved brands.

Yahoo intends to return substantially all of its net cash to shareholders and will determine and communicate a specific capital return strategy at an appropriate time.

LionTree Advisors, LLC, Allen & Company LLC, Bank of America Merrill Lynch and Guggenheim Securities, LLC are acting as financial advisors to Verizon. Wachtell, Lipton, Rosen & Katz, Gibson, Dunn & Crutcher LLP, Covington & Burling LLP and Winston & Strawn LLP are acting as legal advisors to Verizon.

Goldman, Sachs & Co., J.P. Morgan Securities LLC and PJT Partners are acting as financial advisors to the Yahoo Board and its Strategic Review Committee. Skadden, Arps, Slate, Meagher & Flom LLP, Wilson Sonsini Goodrich & Rosati and Weil Gotshal & Manges LLP are acting as legal advisors to Yahoo. Cravath, Swaine & Moore LLP is independent legal advisor to Yahoo’s Strategic Review Committee.

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Archant launches new ‘pop-up’ newspaper – The New European



The New European, a weekly newspaper aimed at people who voted Remain, is being launched by Archant on Friday 8th July.

The paper will offer those feeling dismayed and disenfranchised by Brexit a non-political focal point, bringing together the extraordinarily broad spectrum of people who feel a real sense of loss after the Leave vote victory.

Conceived as a “pop-up paper” aiming to capture the zeitgeist and act as a chronicle for the extraordinary events of the summer of 2016, the title will be delivered to market faster than any other British newspaper in history – just nine days from concept to newsagent.

The New European represents both a markedly different approach in terms of content and readership, but also a wholly new business model for print and its place in an increasingly digital world.

The newspaper will initially run for just four issues, with any subsequent print runs being decided by reader interest. Every issue will be a collector’s item. After the fourth issue, every week’s sale will be a referendum on the next.

Available nationwide via the website, the paper’s retail distribution will be focused on London, Liverpool, Manchester, the south of England and other strongly remain voting areas.

The first issue will contain exclusive articles from leading voices in the UK and Europe, including:

  • Tanit Koch, Editor of Bild, Europe’s most-read newspaper
  • Saul Klein, leading European VC and partner with LocalGlobe
  • James Brown, former Loaded and GQ editor
  • Wolfgang Blau, ex editor of Zeit Online and former digital director of The Guardian
  • Simon Calver, partner with BGF Ventures and former CEO of Mothercare and LoveFilm
  • Annabelle Dickson, leader of the Westminster political lobby for regional newspapers
  • Football writers Steve Anglesey and Paddy Davitt
  • Peter Bale, CEO of the of the Centre for Public Integrity who broke the Panama Papers global exclusive
  • Ahmed Osman, renowned European fashion writer

Matt Kelly, Chief Content Officer and launch editor of The New European, said: “We are currently in an extraordinary period of time in the UK, with all of society seemingly in a state of flux and turmoil. I believe the 48% who voted to Remain are not well served by the traditional press and that there is a clear opportunity for a newspaper like The New European that people will want to read and carry like a badge of honour.

“We value expertise and have some of the world’s best brains in their areas writing for us. And it is also a politician-free zone. They are banned.

“It will be an eclectic and energetic mix of content – not just about the Brexit issue, but a celebration of why we loved Europe so much in the first place. There’ll be plenty of humour in there too – god knows we could all use a laugh these days.”

Will Hattam, Chief Marketing Officer, said: “This isn’t just another national newspaper, it’s a new type of publishing product. As a pop-up publishing project this is a truly innovative approach to reaching new audience segments by extending our established expertise in creating high-quality, engaging content into new areas.

“What’s exciting is that the story of this paper isn’t yet written – its sprung into life, driven by the events of the last few weeks, and will continue to serve its audience as long as they want it to. There’s no ongoing commitment, just an opportunity to explore new boundaries in newspaper publishing.”

The New European will be published by Archant and will be priced at £2 per issue.

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Mastercard Updates its Iconic Logo and Brand Identity


Mastercard, one of the world’s most recognizable brands, unveiled the evolution of its brand identity, including a modernized and simplified update to its iconic red and yellow logo and new look and feel for branded communications and experiences.

The ability to thrive in a digital age as well as position Mastercard as a forward-thinking, human-centered technology company is fundamental to this change.

Mastercard is one of those unique brands that is instantly recognizable around the world,” said Raja Rajamannar, chief marketing and communications officer. “To thrive in this new digital world where business moves faster than ever, we want to modernize and elevate the brand in a design that is simple and elegant, yet unquestionably Mastercard.

“We’ve been on a fantastic trajectory, with digital technology being an increasingly important part of our business,” Rajamannar added, “Now it’s time for our brand to embody the company we’ve become.”

Designing a brand mark to work seamlessly across all digital platforms, retail channels and connected-devices, while preserving its heritage was key to the overall effort, which also includes the most comprehensive brand design system ever introduced globally within Mastercard.

The evolved brand identity will be rolled out to all Mastercard products, communications, and experiences, starting with Masterpass later this month, and across Mastercard beginning in the fall.

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Magic of flight celebrated in Heathrow’s first ever television campaign


  • Heathrow’s newest advertising campaign, titled ‘First Flight’, encourages us to marvel in the magic of flight
  • Heathrow celebrates its 70th anniversary and looks forward to another 70 years of first flights
  • Advert set to ‘When I Live My Dream’ by David Bowie, from his debut 1967 album.

Heathrow has today launched its first ever television campaign ‘First Flight’ to celebrate 70 years of flight at the airport.  Set to David Bowie’s ‘When I Live My Dream’, the airport’s advert tells the story of the magic of a journey as seen through the eyes of a 5-year-old girl with her companion, Owly.  On the girl’s journey from home, through the airport and then onto a flight with her treasured suitcase at her side, Harriet marvels at the magic all around her. The advert ends with the line ‘To the next 70 years of first flights’.

The advert launches on the airport’s social media channels today and will then feature on TV for the first time on Thursday 21st July during the first break of Emmerdale on ITV.

In honour of Heathrow’s 70th anniversary, Qantas is offering 70 people the chance to win ‘The Ultimate Trip’: a five-night stay in Sydney, Australia, travelling from Heathrow on the award-winning Qantas A380. Travellers are invited to share their favourite Heathrow memory – from amusing anecdotes to heart-warming tales – to be in with a chance to win one of 35 pairs of tickets available* at

Heathrow’s CEO John Holland-Kaye said: ‘Heathrow has been proudly connecting the UK to the rest of the world for 70 years.  Our campaign subtly celebrates the work that goes on behind the scenes by more than 400 organisations to make flight possible at Heathrow.  The story is told through the eyes our heroine who sees the result of the airport team’s work as touches of magic throughout her journey with Heathrow.’

Havas London’s Executive Creative Director Ben Mooge said: ‘We’ve seen so many stories that have started and ended at Heathrow over the last 70 years; from the Beatles departing for America to Princess Elizabeth landing as our Queen.

But just as importantly, every day Heathrow starts another of its millions of personal journeys, so we wanted to bring to life a small but universal one – the story of a little girl taking her bag on a first ever flight.’

This message will be amplified beyond the TV campaign through a range of channels including press outdoor through a partnership with Absolute Radio Sponsorship.

First Flight, and the 70th anniversary campaign has been created by advertising agency Havas. It is directed by DOM&NIC through Outsider Productions. The campaign with media planning and buying by Carat begins with video on demand spots on ITV, All4, Sky Media and STV.

The ad can be viewed on the Heathrow YouTube channel.

The owl bag featured in the television advert will be available to passengers at Heathrow in Terminal 2’s John Lewis.

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