(P1) Verizon will acquire Yahoo, once valued at more than $125 billion, for $4.8 billion, a source tells the Wall Street Journal. An official announcement of the deal, which will end an auction process that began five months ago, is expected Monday. The WSJ calls the deal “a remarkable fall for the Silicon Valley web pioneer,” adding that it’s an opportunity for Verizon to add to its growing digital and advertising business.
(P2) Last week, Yahoo reported that its revenue for the April-June quarter was down 19% year-over-year, according to the AP, falling to $842 million from $1 billion in 2015. At that time, the AP speculated that selling Yahoo’s operations “would likely end the four-year reign of CEO Marissa Mayer.”
VOCABULARY: acquire, auction, pioneer, revenue, speculated
If you found the passage difficult to read or had problems understanding specific words or idiomatic expressions, please discuss them with your tutor. The following discussion questions should be answered in your own words and with your own arguments.
- Briefly, summarize the content of the article in your own words.
- Why do you think Yahoo lost so much value over the years?
- Which other companies are pioneers in technology?
- Do you think Yahoo’s CEO, Marissa Mayer, will lose her job or will Verizon keep her? Why?
READING COMPREHENSION QUESTIONS:
- What was Yahoo once worth?
- What method was used to sell Yahoo?
- Yahoo helped advance internet technology. (T or F)
- How much profit did Yahoo report last week?
- Who is the top executive of Yahoo?
EXPRESSIONS or PHRASES:
What do the following expressions or phrases mean?
- once valued at more than $125 billion (p1)
- remarkable fall (P1)
- year-over-year (P2)
- likely end (P2)