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May 4, 2021

Verizon Sells Yahoo and AOL for $5 Billion

Verizon Sells Yahoo and AOL for $5 Billion

CNBC

If the high-pitched screech of a dial-up modem brings back fond memories, you may be delighted to learn that Verizon Media is being renamed as Yahoo after being sold to a private equity firm. Verizon Media bought Yahoo in 2017 and AOL in 2015 for a combined $9 billion but the current sale values them at around half that amount. Oopsies.

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Meredith Corporation Sells Local TV Stations

Meredith

Maybe it’s National Stick to Your Knitting Day: Meredith Corporation is selling its local TV stations for $2.7 billion, leaving it free to concentrate on its core publishing brands, which include People, Better Homes & Gardens, and Allrecipes. Those may sound old-fashioned but Meredith already makes more from digital advertising than print advertising. This might be a good time to sell: TV viewing time dropped 9% in the first quarter of this year and is expected to fall further.

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Marketers Accept that AI Resistance is Futile

Bynder

Pandemic-driven pressures for productivity may have broken down marketers’ resistance to AI-based creative. This Bynder report finds just 1% of marketers think branding can’t be automated, compared with 23% last year. A whopping 89% believe technology will help creativity at the companies, although (in a different question) 29% said automation will diminish creativity and 28% said it will eliminate jobs.

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