TVNewser FishbowlDC AgencySpy TVSpy LostRemote PRNewser SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

Yahoo! to Get Billions in Chinese Company Sale

Yahoo!’s Marissa Mayer is about to get a nice chunk of cash to work with. According to All Things D, China’s Alibaba Group is going to pay Yahoo! $7.6 billion to buy back 20 percent of Alibaba that Yahoo! owns. Yahoo! still owns another 20 percent.

If the deal goes through, that means Yahoo! would get about $7.1 billion for the deal, along with another $550 million for annual licensing fees that Alibaba has paid Yahoo!. In the end, Mayer would have about $4.5 billion.

That’s quite a lot of money to throw around. Yahoo! initially said it would give it to investors, but later relented on that position, saying that Mayer might keep it to acquire properties and make other moves. We can’t imagine that Yahoo!’s shareholders will be excited about that, no matter what she ends up buying.

Mediabistro Course

Personal Essay Writing

Personal Essay WritingStarting October 28, work with a published journalist to draft, edit, and sell your first-person essays! Jessica Olien will help you to workshop your writing so that it's ready to pitch to editors. You'll learn how to tell your personal story, self-edit you work to assess voice, style, and tone, and sell your essays for publication. Register now!