Yahoo dishes the details behind its sale to Verizon in 360-page legal filing
Yahoo released a lengthy regulatory filing on Friday evening in which the aging search engine details some of the corporate intrigue behind the scenes of its sale to Verizon earlier this summer.
The 360-page document describes the long and meandering road — and the dozens of meetings with buyers along the way — leading to the dilapidated web portal’s sale to the telecom giant. Segments of it may be familiar to those who watched the story messily play out in the press.
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Among the revelations: five Yahoo execs could cash out with a combined $89 million in golden parachutes should they lose their jobs; Yahoo would have to pay a $145 million termination fee to Verizon were it to back out of the sale; and a total of 51 potential suitors discussed buying Yahoo at one point or another — among them, Yahoo Japan, of which the U.S. arm only owns a little more than a third (Japanese telecom SoftBank owns the rest). Read more…More about Yahoo, Business, Advertising, and Media
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