Verizon's Yahoo purchase expected to close next week
Marcio Jose Sanchez / AP
Yahoo's shareholders signed off Thursday on the sale of the company's core assets to Verizon, with the deal expected to close on Tuesday.
Worth noting: Job cuts are expected to accompany the deal. TechCrunch reported on Thursday that cuts are expected to amount to about 15% of the firms' combined workforce, echoing an earlier report from Recode that layoffs were coming.
Why it matters: It's been a long road to this deal because of revelations about breaches that hit Yahoo's user data and ultimately resulted in a price reduction for Verizon. But the merger is an important part of Verizon's strategy to become a bigger player in the digital ad world dominated by Facebook and Google.