American telecommunications company Verizon closed its $4.48bn purchase of Yahoo’s core business on Tuesday.
Advertisers spent $72.5bn on digital marketing in the US last year, an increase of 22 percent from 2015, according to a report by consultancy firm PwC for the Interactive Advertising Bureau (IAB).
AOL and Yahoo are going to be owned under Verizon’s new media brand, Oath, once it completes its acquisition of Yahoo.
Despite the rocky road so far — and a peculiar name choice — the now $4.48bn deal between Verizon and Yahoo is still the best opportunity for the telecoms giant to strengthen its proposition in the digital media and advertising space currently dominated by Google and Facebook.
The US department of justice (DoJ) has charged two Russian intelligence officers and their conspirators for hacking Yahoo in 2014.
China and the US dominate the 50 most popular websites in the world.
Verizon is reportedly set to buy out Yahoo, a deal which has been in the making for months, yet with an estimated $250-350m discount.
The World Economic Forum’s (WEF) twelfth annual assessment of global risks was published today, with a strong focus this year on tackling inequality and deepening social and political polarisation.