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The company pointed to an increasingly challenging business and legal environment in China.
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If the $4.8 billion deal goes through, more than half of the company's current board members, including Yahoo's CEO, Marissa Mayer, will step down.
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For the second time this year, Yahoo has announced that customers were hacked. This time the company estimates that more than 1 billion user accounts had data stolen.
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The Internet pioneer Yahoo just had its core business auctioned off to Verizon. Mayer was hired four years ago to turn the company around. We look back at the critical early months of her tenure.
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The deal comes more than a year after Verizon paid $4.4 billion to acquire AOL; as part of Verizon, Yahoo will join the same division AOL currently occupies.
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The Internet pioneer continues to lose money. Its fourth-quarter report shows a loss of $4.4 billion. Established in the days of dial-up modems, it has had trouble keeping up with life on the Web.
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Yahoo has announced a counterintuitive strategy in its efforts to sell shares in another company: If it can't spin off Alibaba tax-free, the company will try to spin off the rest of Yahoo instead.