Yahoo Friday named Jim Lanzone, a veteran tech and media executive, CEO of Tinder and former head of CBS Interactive, as its new chief executive effective September 27.
He succeeds Guru Gowrappan, who becomes senior advisor to the private equity business of Apollo Global Management, which acquired Yahoo and other media assets from Verizon in May for $5 billion. Verizon retained a 10% stake.
Apollo said Lanzone will help Yahoo accelerate the growth of its properties as a privately held company and draw on his deep media experience “to drive the next generation of innovation” across its content and advertising platforms. It said Yahoo intends “to invest significantly” in the user experience and new offerings that can build on its brands in sports, finance, news and technology.
Lanzone joins Yahoo from Tinder, where he has been CEO. Prior to that, he led the digital operations of CBS Corp. as chief digital officer and...
He succeeds Guru Gowrappan, who becomes senior advisor to the private equity business of Apollo Global Management, which acquired Yahoo and other media assets from Verizon in May for $5 billion. Verizon retained a 10% stake.
Apollo said Lanzone will help Yahoo accelerate the growth of its properties as a privately held company and draw on his deep media experience “to drive the next generation of innovation” across its content and advertising platforms. It said Yahoo intends “to invest significantly” in the user experience and new offerings that can build on its brands in sports, finance, news and technology.
Lanzone joins Yahoo from Tinder, where he has been CEO. Prior to that, he led the digital operations of CBS Corp. as chief digital officer and...
- 9/10/2021
- by Jill Goldsmith
- Deadline Film + TV
Former CBS Interactive CEO Jim Lanzone is returning to the media sector.
Lanzone, who has been the CEO of dating app Tinder for the last year, will become CEO of Yahoo, which last week spun out from its former parent company Verizon, and is controlled by the private equity firm Apollo. Lanzone starts at Yahoo on Sept. 27.
Guru Gowrappan, who ran the Verizon Media unit for the telecom company, and has been leading Yahoo since its spin-off, announced the news to staff Friday morning in a memo, which The Hollywood Reporter has obtained. He will move to a role as a senior advisor to Apollo....
Lanzone, who has been the CEO of dating app Tinder for the last year, will become CEO of Yahoo, which last week spun out from its former parent company Verizon, and is controlled by the private equity firm Apollo. Lanzone starts at Yahoo on Sept. 27.
Guru Gowrappan, who ran the Verizon Media unit for the telecom company, and has been leading Yahoo since its spin-off, announced the news to staff Friday morning in a memo, which The Hollywood Reporter has obtained. He will move to a role as a senior advisor to Apollo....
- 9/10/2021
- The Hollywood Reporter - Movie News
Former CBS Interactive CEO Jim Lanzone is returning to the media sector.
Lanzone, who has been the CEO of dating app Tinder for the last year, will become CEO of Yahoo, which last week spun out from its former parent company Verizon, and is controlled by the private equity firm Apollo. Lanzone starts at Yahoo on Sept. 27.
Guru Gowrappan, who ran the Verizon Media unit for the telecom company, and has been leading Yahoo since its spinoff, announced the news to staff Friday morning in a memo, which The Hollywood Reporter has obtained. He will move to a role as a senior advisor to Apollo....
Lanzone, who has been the CEO of dating app Tinder for the last year, will become CEO of Yahoo, which last week spun out from its former parent company Verizon, and is controlled by the private equity firm Apollo. Lanzone starts at Yahoo on Sept. 27.
Guru Gowrappan, who ran the Verizon Media unit for the telecom company, and has been leading Yahoo since its spinoff, announced the news to staff Friday morning in a memo, which The Hollywood Reporter has obtained. He will move to a role as a senior advisor to Apollo....
- 9/10/2021
- The Hollywood Reporter - Film + TV
Verizon Media, the telecom giant’s media division comprising Yahoo and AOL, will sell to private equity firm Apollo Funds for $5 billion.
Verizon said this morning that, per the terms of the transaction, it will receive $4.25 billion in cash, $750 million in preferred interest, and will maintain a 10% stake in the new company, which will be called Yahoo and continue to be led by its current CEO, Guru Gowrappan. The deal is set to close in the second half of this year.
Verizon Media is also home to popular web brands like Techcruch and Engadget, as well as a lucrative ad business -- though the move signals Verizon is throwing in the towel on its longstanding media ambitions. Verizon has also shed other media properties in recent months, selling HuffPost to BuzzFeed last November.
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Verizon said this morning that, per the terms of the transaction, it will receive $4.25 billion in cash, $750 million in preferred interest, and will maintain a 10% stake in the new company, which will be called Yahoo and continue to be led by its current CEO, Guru Gowrappan. The deal is set to close in the second half of this year.
Verizon Media is also home to popular web brands like Techcruch and Engadget, as well as a lucrative ad business -- though the move signals Verizon is throwing in the towel on its longstanding media ambitions. Verizon has also shed other media properties in recent months, selling HuffPost to BuzzFeed last November.
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- 5/3/2021
- by Geoff Weiss
- Tubefilter.com
Verizon said Monday that it’s clinched a deal to sell its media assets to Apollo Global Management and related entities for $5 billion. Verizon will retain a 10% stake in the company, which will be known as Yahoo at close of the transaction and continue to be led by CEO Guru Gowrappan.
Verizon Media brands are led by Yahoo and AOL, two companies with a complex and difficult past.
Yahoo was founded in 1994 by electrical engineering students Jerry Yang and David Filo as a website called Jerry and David’s Guide to the World Wide Web. It became a portal and grew rapidly during the 1990s, riding the Internet boom, but also the crash in 2001, and had a long succession of CEOs including Yang, former Warner Bros chairman Terry Semel, Caro Bartz, Tim Morse, Scott Thompson, Ross Levinsohn and Marissa Mayer.
AOL launched even earlier, in the late 1980s, and was...
Verizon Media brands are led by Yahoo and AOL, two companies with a complex and difficult past.
Yahoo was founded in 1994 by electrical engineering students Jerry Yang and David Filo as a website called Jerry and David’s Guide to the World Wide Web. It became a portal and grew rapidly during the 1990s, riding the Internet boom, but also the crash in 2001, and had a long succession of CEOs including Yang, former Warner Bros chairman Terry Semel, Caro Bartz, Tim Morse, Scott Thompson, Ross Levinsohn and Marissa Mayer.
AOL launched even earlier, in the late 1980s, and was...
- 5/3/2021
- by Jill Goldsmith
- Deadline Film + TV
Verizon is exiting the media business.
The telecom giant is selling Yahoo, AOL and the remainder of its Verizon Media brands to the private equity firm Apollo Global Management in a $5 billion deal announced Monday.
The new company will be called Yahoo and will continue to be run by CEO Guru Gowrappan. Verizon will retain a 10 percent stake in the new company, and LionTree, which served as the lead financial advisor on the transaction, will also be an investor alongside Apollo. Under the terms of the deal, Apollo will pay Verizon $4.25 billion in cash and preferred ...
The telecom giant is selling Yahoo, AOL and the remainder of its Verizon Media brands to the private equity firm Apollo Global Management in a $5 billion deal announced Monday.
The new company will be called Yahoo and will continue to be run by CEO Guru Gowrappan. Verizon will retain a 10 percent stake in the new company, and LionTree, which served as the lead financial advisor on the transaction, will also be an investor alongside Apollo. Under the terms of the deal, Apollo will pay Verizon $4.25 billion in cash and preferred ...
Verizon is exiting the media business.
The telecom giant is selling Yahoo, AOL and the remainder of its Verizon Media brands to the private equity firm Apollo Global Management in a $5 billion deal announced Monday.
The new company will be called Yahoo and will continue to be run by CEO Guru Gowrappan. Verizon will retain a 10 percent stake in the new company, and LionTree, which served as the lead financial advisor on the transaction, will also be an investor alongside Apollo. Under the terms of the deal, Apollo will pay Verizon $4.25 billion in cash and preferred ...
The telecom giant is selling Yahoo, AOL and the remainder of its Verizon Media brands to the private equity firm Apollo Global Management in a $5 billion deal announced Monday.
The new company will be called Yahoo and will continue to be run by CEO Guru Gowrappan. Verizon will retain a 10 percent stake in the new company, and LionTree, which served as the lead financial advisor on the transaction, will also be an investor alongside Apollo. Under the terms of the deal, Apollo will pay Verizon $4.25 billion in cash and preferred ...
BuzzFeed is acquiring HuffPost, as part of a strategic partnership with Verizon Media that marks the latest evolution in the digital media landscape.
Verizon Media, the current owner of HuffPost, will become a minority shareholder in BuzzFeed as a result of the all-stock transaction.
Under the deal, Verizon Media and BuzzFeed have agreed to syndicate each other’s content across platforms. They also will create an “innovation group” to explore opportunities and to pursue emerging ad formats.
Additional terms of the deal, including a valuation, were not disclosed.
The consolidation is the latest example of digital media brands looking to achieve scale and stability as they face intense competition from tech giants like Facebook and Google in the ad market. Recent mergers have paired Vice with Refinery 29, Vox with New York Media and Group Nine with Pop Sugar. For BuzzFeed, the acquisition caps a turbulent year as Covid-19 has forced...
Verizon Media, the current owner of HuffPost, will become a minority shareholder in BuzzFeed as a result of the all-stock transaction.
Under the deal, Verizon Media and BuzzFeed have agreed to syndicate each other’s content across platforms. They also will create an “innovation group” to explore opportunities and to pursue emerging ad formats.
Additional terms of the deal, including a valuation, were not disclosed.
The consolidation is the latest example of digital media brands looking to achieve scale and stability as they face intense competition from tech giants like Facebook and Google in the ad market. Recent mergers have paired Vice with Refinery 29, Vox with New York Media and Group Nine with Pop Sugar. For BuzzFeed, the acquisition caps a turbulent year as Covid-19 has forced...
- 11/19/2020
- by Ted Johnson and Dade Hayes
- Deadline Film + TV
Many of the executives leading the streaming revolution in television came of age on the job as the industry was rocked by the launch of Fox and the rise of cable. That experience during a tumultuous time in an earlier era is proving invaluable today.
Bob Greenblatt, chairman of WarnerMedia Entertainment, got his start on the Fox lot in the 1980s. Learning the business at a place that was actively rewriting the rules of television was good training for the task of taking HBO and other storied entertainment brands into the digital future.
Greenblatt is the keynote speaker for the Nab Show Executive Leadership Summit, produced in association with Variety Streaming Room, set for May 11 and May 13.
The Els gathering had been scheduled to take place April 19 in conjunction with the National Assn. of Broadcasters’ annual Nab Show convention in Las Vegas, which typically draws more than 90,000 attendees — but it...
Bob Greenblatt, chairman of WarnerMedia Entertainment, got his start on the Fox lot in the 1980s. Learning the business at a place that was actively rewriting the rules of television was good training for the task of taking HBO and other storied entertainment brands into the digital future.
Greenblatt is the keynote speaker for the Nab Show Executive Leadership Summit, produced in association with Variety Streaming Room, set for May 11 and May 13.
The Els gathering had been scheduled to take place April 19 in conjunction with the National Assn. of Broadcasters’ annual Nab Show convention in Las Vegas, which typically draws more than 90,000 attendees — but it...
- 5/8/2020
- by Cynthia Littleton
- Variety Film + TV
As the world combats Covid-19, the Uso has quickly mobilized to transition from traditional Uso tours to Uso military virtual programming to provide talent engagements for troops and military families.
Last month, in response to Covid-19, the Uso suspended its trademark live celebrity tours, which have entertained millions of service members stationed around the globe for nearly 80 years.
“The Uso has always been by the side of our military and their families, and Covid-19 does not change this,” said Alan Reyes, Uso chief operating officer. “Our mission of connection is more critical than ever before. With the help of military supporters, the entertainment industry and Uso partners, we are providing virtual engagements and programming to boost morale during the pandemic. Together, we are expressing our nation’s gratitude for all that the military community is doing to help protect us and reduce the spread of Covid-19.”
As part of Uso military virtual programming,...
Last month, in response to Covid-19, the Uso suspended its trademark live celebrity tours, which have entertained millions of service members stationed around the globe for nearly 80 years.
“The Uso has always been by the side of our military and their families, and Covid-19 does not change this,” said Alan Reyes, Uso chief operating officer. “Our mission of connection is more critical than ever before. With the help of military supporters, the entertainment industry and Uso partners, we are providing virtual engagements and programming to boost morale during the pandemic. Together, we are expressing our nation’s gratitude for all that the military community is doing to help protect us and reduce the spread of Covid-19.”
As part of Uso military virtual programming,...
- 4/27/2020
- Look to the Stars
Verizon Media, the telecom giant’s content arm, has announced a new chief technology officer, Rathi Murthy, who most recently served in the same capacity at fashion retailer the Gap.
Murthy will oversee Verizon Media’s global technology strategy, according to the company, including 5G innovations, advertising, content, commerce, and subscriptions. Verizon Media comprises properties including Yahoo, AOL, HuffPost, TechCrunch, and Engadget.
At Gap, Murthy led tech and operations across the entire company. Prior to that, she held similar senior roles at American Express, eBay, and Yahoo.
“Rathi is a stellar technology leader who, for over 20 years, has driven growth for some of the world’s biggest companies, including Gap, American Express, and eBay,” Guru Gowrappan, the CEO of Verizon Media, said in a statement. “As our business continues to evolve in new ways, we are excited to add her wealth of experience and believe it will be invaluable for...
Murthy will oversee Verizon Media’s global technology strategy, according to the company, including 5G innovations, advertising, content, commerce, and subscriptions. Verizon Media comprises properties including Yahoo, AOL, HuffPost, TechCrunch, and Engadget.
At Gap, Murthy led tech and operations across the entire company. Prior to that, she held similar senior roles at American Express, eBay, and Yahoo.
“Rathi is a stellar technology leader who, for over 20 years, has driven growth for some of the world’s biggest companies, including Gap, American Express, and eBay,” Guru Gowrappan, the CEO of Verizon Media, said in a statement. “As our business continues to evolve in new ways, we are excited to add her wealth of experience and believe it will be invaluable for...
- 1/10/2020
- by Geoff Weiss
- Tubefilter.com
Tumblr, once a major force in social media, founded by a 19-year-old and bought by Yahoo for $1.1 billion, has been unloaded by Verizon Media for far less than that to Auttomatic, the parent company of WordPress.
The companies did not disclose financial terms but multiple press reports pegged the value at less than $20 million. Auttomatic will absorb Tumblr’s 200 employees. For Verizon Media, the unit previously known as Oath, the deal marks the latest step in an ongoing effort to cut expenses as its parent focuses more on connectivity and 5G technology. Many once-formidable assets in its portfolio, including AOL and Huff Post, have seen their value ebb as the digital media landscape evolves.
Tumblr long ago was eclipsed by Facebook, Instagram and even Pinterest and Reddit in terms of user levels. But in its day, the short-form blogging venue punched well above its weight. David Karp, who founded the...
The companies did not disclose financial terms but multiple press reports pegged the value at less than $20 million. Auttomatic will absorb Tumblr’s 200 employees. For Verizon Media, the unit previously known as Oath, the deal marks the latest step in an ongoing effort to cut expenses as its parent focuses more on connectivity and 5G technology. Many once-formidable assets in its portfolio, including AOL and Huff Post, have seen their value ebb as the digital media landscape evolves.
Tumblr long ago was eclipsed by Facebook, Instagram and even Pinterest and Reddit in terms of user levels. But in its day, the short-form blogging venue punched well above its weight. David Karp, who founded the...
- 8/12/2019
- by Dade Hayes
- Deadline Film + TV
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