Verizon Acquires Yahoo In $4.8 Billion Deal

Yahoo’s 20-plus year tenure as an independent company is no more, with news that it has been acquired by Verizon for $4.83 billion.
Word spread over the weekend about the pending deal, but now it’s official. As part of the acquisition, Yahoo will be integrated with AOL under Marni Walden, Verizon’s EVP and president of product innovation and new business organization.
“Just over a year ago, we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertisers,” said Lowell McAdam, Verizon chairman and CEO, in a press release. “The acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising.”
The selection of Verizon wasn’t exactly a surprise, as it had always been the presumptive front-runner in the bid to purchase the once-mighty search engine company.
Near the beginning of the year, Yahoo announced that it was implementing an “aggressive strategic plan,” having exhausted all attempts at a successful turnaround. After four years of leadership under CEO Marissa Mayer, shareholders had lost patience, which led to their ultimately putting the company on the market for interested buyers.
To be fair, Yahoo had been on shaky ground long before Mayer took the helm, with previous CEOs implementing layoff after layoff to reduce costs. The company, which once had a peak market capitalization of $128 billion –more than twice that of the Walt Disney Co — was unable to find its way back to its former glory. But now, its core business is believed by many to be practically worthless, with most of Yahoo’s current value in its Alibaba and Yahoo Japan holdings.
It’s this that sealed Yahoo’s, and subsequently Mayer’s, fates. In 2015, Mayer reversed course and decided not to spin the company’s Alibaba holdings into a standalone firm called Aabaco Holdings. Soon after, activist hedge fund Starboard Value threatened to wage a shareholder battle, before eventually negotiating a takeover of four board seats.
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Over the past few months, Yahoo has entertained a number of possible suitors for its core business. And while Verizon had been the odds-on favorite, other bidders included private equity firm TPG, a group of investors led by Quicken Loans’ Dan Gilbert, and AT&T. Some had even claimed that Yellow Pages parent company YP, as well as Time and Daily Mail, were interested in the tech giant.
Yahoo’s board formed an independent panel to explore options and engaged bankers Goldman Sachs, J.P. Morgan, and PJT as financial advisors, along with Cravath, Swaine & Moore LLP, as the company’s legal advisor.
The deal, which is still subject to approval by Yahoo’s shareholders, along with the usual regulatory approvals, is expected to close in early 2017.
It’s worth noting here that the sale doesn’t include Yahoo’s cash, as all net cash will be returned to shareholders with a “specific capital return strategy” to be announced later. The deal also doesn’t include Yahoo’s substantial shareholdings in Alibaba, Yahoo Japan, or its convertible notes, non-core patents, and other minority investments, all of which will still be held by Yahoo, though under an as-yet undisclosed new name, and which will become a publicly traded investment company.
“The sale of our operating business, which effectively separates our Asian asset equity stakes, is an important step in our plan to unlock shareholder value for Yahoo,” said Yahoo CEO Marissa Mayer in the announcement.
In terms of what happens to Mayer next, well, speculation had suggested the Yahoo chief would be given a $57 million severance, but in the wake of the acquisition news today, she issued a statement that said she would be hanging around “to see Yahoo into its next chapter.” That could mean for the long haul, but then again it suggests that she’s only staying on until the conclusion of the acquisition in early 2017.
As news of the acquisition started to emerge, Yahoo’s shares rose 1.36 percent to almost $40 in pre-market trading. This was the company’s highest in around a year, though still way down from the $100-plus share price Yahoo enjoyed back in its heyday. Verizon’s stock went up by 1.32 percent in early market trading, though its stock had already been steadily growing in recent months.

Update: Armed men who killed Catholic priest in France shouted 'Daesh' before slitting priest's throat

This morning a Catholic priest near Normandy, City of Rouen, France was found dead after two men armed with knives took hostages at a church and slit the priest's throat. Read Here.But new reports coming out of the crime scene say the knife-men shouted 'Daesh' a message in support of Islamic State (ISIS) as they launched the attack.  Before police units rushed to the church in the Normandy town of Saint-Etienne-du Rouvray and shot them dead after a long gun battle.

A spokesman for the ministry of the interior, Pierre-Henry Brandet, confirmed that the priest was dead and said another hostage was "between life and death".

Mr Brandet told French TV channel BFMTV: "The two hostage-takers came out of the church armed and it was at that point that they were neutralised by the police."

National Front leader Marine le Pen said: "More horror at Saint Etienne du Rouvray. The modus operandi obviously leads one to fear a new attack by Islamist terrorists."

Source: AFP

Photo of 84 year old Father Jacques Hamel, the catholic priest whose throat was slit by armed men in France this morning

The priest killed at the hands of the suspected ISIS men today in Rouen, France this morning at a catholic church has been named as 86-year-old Father Jacques Hamel. He was ordained in 1958... May his soul Rest in Peace (Amen).

Priest killed after two men armed with knives attacked a church in France

A priest was found dead with his throat slit after two men armed with knives took hostages at a church in Rouen, France this morning July 26th. The men had arrived the church in Saint-Etienne-du-Rouvray and held the priest, two nuns and other church members hostage during their early morning mass. The police arrived the scene and shot dead the two armed men. No group has claimed responsibility for the attack. The French police is investigating the incident as it unfolds.

UNIBEN Student Poisons Fellow Students (photos)

There is uproar in Uniben as a jealous female student tries to poison her crush's girlfriend and unfortunately poisons both the crush and girlfriend. See photos==>

Lai Mohammed quoted a Yoruba proverb at BBC

Indian military Antonov plane goes missing

An Indian military plane with 29 people on board has gone missing over the Bay of Bengal which is the largest bay in the world and is found at the northeastern part of the Indian Ocean.

 According to the Indian Air Force (IAF), the Antonov-32 transporter aircraft took off from Chennai (Madras) at 08:30 local time (03:00 GMT), bound for Port Blair in the eastern archipelago of Andaman and Nicobar. It was scheduled to land at 11:30. A search operation has been launched.

The plane was carrying service personnel to strategic islands near the Malacca Straits, where India has a military base.

North Korea president watches as his military practices blowing up South Korean airports/seaports

North Korea says it has been practicing to blow up South Korean seaports and airports with nuclear warheads during its most recent ballistic missile launches on Tuesday, the latest sign of Supreme leader Kim Jong Un's anger over attempts by South Korea and the U.S to contain it's military operations.

North Korea launched three missiles – two short-range Scuds and one medium-range Rodong – from a launch site south of the capital Pyongyang early on Tuesday morning. They flew about 350 miles across the peninsula to land in the sea off the east coast.South Korean military officials said they had the potential to hit even the southern most parts of their country.  

According to the North's state media, their Supreme leader Kim Jong-un personally supervised Tuesday's firing of the three ballistic missiles, a week after South Korea and the United States chose a site in the South to deploy the Terminal High Altitude Area Defence (THAAD) anti-missile system to counter threats from the North. 

Military officials from the U.S say the missile test from North Korea is more of a show of strength and force rather than a test to improve missile capabilities.

When South Korea and the U.S chose to deploy the THAAD Military technology in a U.S base in South Korea, China objected to the move saying it would destabilize the security balance in the region before North Korea threatened a "physical response".

The drill carried out on Tuesday rehearsed “making preemptive strikes at ports and airfields in the operational theatre in south Korea, where the US imperialists nuclear war hardware is to be hurled,” the North's official Korean Central News Agency said.

“Kim Jong Un expressed great satisfaction over the successful drill,” the KCNA statement said, and he praised the soldiers for being “fully ready to carry out any order issued all of a sudden.”

Kim Jong-un, the third-generation leader of North Korea bears the official title of “Supreme Commander of the Korean People's Army”.

Source: Al Jazeera/  Korean Central News Agency

Wait, did BBC Africa shade President Buhari?

Under the article, this is what BBC wrote; "Kibarkingmad and Olushambles debate Nigeria's president's trip to London last month - reportedly to to be treated for an ear infection - after he had promised to end "medical tourism". You can read here

Leo Mezie Down With Kidney Failure (see photos)

Popular Nollywood actor Leo Mezie is down with kidney related ailment. Sickness is said to have reached an advance stage and needs urgent financial assistance to forestall the worse. It was gathered that the actor has been battling the ailment for several months on his own until things got to a head days back when his second kidney was alleged to have collapsed.

A Soldier's Pre-Wedding Photoshoot. Military got swag

see more photos below....

You Can Also read: Leak Video: African Guy Doing It With BIg Yansh Lady[Download and watch video]

Wizkid’s Son, Boluwatife Graduates (Photos)

Stephen King shades the heck out of Donald Trump: "an idiot who can't find his own ass with both hands and a flashlight"

Best selling international author, Stephen King has described U.S Presidential Republican Presidential candidate Donald Trump as "an idiot who can't find his own ass with both hands and a flashlight" He stated this in a tweet posted yesterday.

Nigeria Global Competitiveness Index rank—World Bank

World Bank, yesterday, said Nigeria recorded slight improvement in Global Competitiveness Index ranking, GCI, from 127 to 124.
President Muhammadu Buhari and Vice President Yemi Osinbajo at the opening of a 2-day National Economic Council Retreat at the State house Conference Centre on 21st March 2016. The report also attributed 16th position of the bottom 20 economies in the Global Competitiveness Index, GCI, to sub-Sahara African. The World Bank Group Governance Specialist and co-author, African Competitive report, Mr. Barak Hoffman, made this known at the Nigerian Economic Summit Group and World Bank workshop on Economic competitiveness in Nigeria in Lagos. According to the report, “Nigeria, as at 2005, was ranked 94; but further dropped to 124 out of the 140 countries in the Global Competitiveness Index, GCI, in 2015/2016, between Gambia and Zimbabwe. “The country rose from 127 in 2014/ 2015, as Mauritius remains the region’s most competitive economy rated 46, while Côte d’Ivoire at 91 is the most improved country in Sub-Saharan Africa, followed by Ethiopia ranked 109.” He listed institutions, policies, and factors of production to determine the level of productivity of a country. He explained that Nigeria performed well on market size, Marco economic environment, and labour market efficiency, but had challenges in health, primary education, higher education, training and infrastructure. Challenges He mentioned included: “Poor infrastructure, corruption and access to financing are the most problematic factors for doing business in Nigeria. Tax rates and complexity, and crime are not very problematic, by contrast.

He smiled at us! See how these kids reacted to a flash of smile from Cristiano Ronaldo

Just a flash of smile from Cristiano Ronaldo made their day. So cute!

Nigerian Fighter Jets Bomb Bokoharam Terrorist Location In Sambissa

OPERATION GAMA AIKI: F-7Ni FIGHTER AIRCRAFT STRIKES BOKO HARAM TERRORIST LOCATION IN NORTHERN BORNO

The Air Component of OPERATION LAFIYA DOLE recorded another major success yesterday in its air campaign against the Boko Haram Terrorists(BHT) as 2 x F-7Ni fighter aircraft struck a terrorists’ location at Northern Borno. 
The location lies between Tumbum Rego and Malkonory and is about 25km from Kangarwa where own surface forces are currently harboured. 
The location, as can be seen from the enclosed footage, harbours BHT makeshift structures and about 4-6 clusters of solar panels which are used by the Terrorists to power communications equipment and for lighting.
The latest strike is part of the air operations conducted by the Nigerian Air Force (NAF) in support of the efforts by own surface forces and the Multi National Joint Task Force to rid the northern part of Borno of the remnants BHTs in an operation codenamed “OPERATION GAMA AIKI”. 
The location, prior to the strike yesterday, had been under surveillance for sometimes but was reported active by a NAF Beechcraft aircraft on Intelligence, Surveillance and Reconnaissance (ISR) mission. Thereafter, the Fighter aircraft were immediately scrambled for interdiction. The success of this operation is another major setback for the BHTs even as the NAF intensifies air operations in the Northeast against the insurgents. More so, it is instructive to note that the mission yesterday was conducted by crew amid the Sallah celebration. This brings to fore the commitment of NAF personnel towards successfully bringing the hostility in the Northeast to an end within the shortest possible time. See video below

Kudos to our Airmen!

President Obama reacts to the killing of two Black Americans by white police officers

US President Obama says all Americans should be deeply troubled by the recent killings of two Black Americans by white police officers. He reacted via a post which he shared on his Facebook wall this evening. He wrote:

All Americans should be deeply troubled by the fatal shootings of Alton Sterling in Baton Rouge, Louisiana and Philando Castile in Falcon Heights, Minnesota. We've seen such tragedies far too many times, and our hearts go out to the families and communities who've suffered such a painful loss.

Although I am constrained in commenting on the particular facts of these cases, I am encouraged that the U.S. Department of Justice has opened a civil rights investigation in Baton Rouge, and I have full confidence in their professionalism and their ability to conduct a thoughtful, thorough, and fair inquiry.

But regardless of the outcome of such investigations, what's clear is that these fatal shootings are not isolated incidents. They are symptomatic of the broader challenges within our criminal justice system, the racial disparities that appear across the system year after year, and the resulting lack of trust that exists between law enforcement and too many of the communities they serve. 

To admit we've got a serious problem in no way contradicts our respect and appreciation for the vast majority of police officers who put their lives on the line to protect us every single day. It is to say that, as a nation, we can and must do better to institute the best practices that reduce the appearance or reality of racial bias in law enforcement. 

That's why, two years ago, I set up a Task Force on 21st Century Policing that convened police officers, community leaders, and activists. Together, they came up with detailed recommendations on how to improve community policing. So even as officials continue to look into this week's tragic shootings, we also need communities to address the underlying fissures that lead to these incidents, and to implement those ideas that can make a difference. That's how we'll keep our communities safe. And that's how we can start restoring confidence that all people in this great nation are equal before the law. 

In the meantime, all Americans should recognize the anger, frustration, and grief that so many Americans are feeling -- feelings that are being expressed in peaceful protests and vigils. Michelle and I share those feelings. Rather than fall into a predictable pattern of division and political posturing, let's reflect on what we can do better. Let's come together as a nation, and keep faith with one another, in order to ensure a future where all of our children know that their lives matter.

TECH:PS4 Neo upgrade: Sony confirms new Playstation 4 with 4K resolution

It's real and will be more expensive but you won't see it at E3

 

Sony has confirmed rumours that the company is planning to release a more powerful Playstation 4 console, codenamed "Neo", but has said we won’t get to see it at E3.

In an interview with the Financial Times, the company's chief executive Andrew House said that the console will have improved graphics, a faster processor, and will support ultra high definition 4K resolution. He also promised that rather than being a replacement for the current console “it is intended to complement and sit alongside the standard PS4” with both versions being sold concurrently and all games continuing to support the standard PS4 . 

This is a fairly unexpected announcement since all signs seemed to point to the rumour being confirmed at next week’s E3 conference in Los Angeles. Instead, House said that we won’t see any news about the console quite as soon as E3 and offered no information on its pricing or release date. The only thing we do know with regards to price is that the Neo will be more expensive than the current standard model which costs £270.

Now that the Neo has been confirmed, we wonder if Microsoft will feel any pressure to address the rumours that they have their own upgraded hardware in the works under the codename of Scorpio. Perhaps that will be the E3 announcement we’ll get instead

International passengers confirmed among dead in Istanbul's Ataturk airport attack as death toll rise to 36

Turkish officials confirmed there were international passengers among those killed in the terror attack on Istanbul's Ataturk airport. According to AFP, an official said the death toll consisted of 23 Turkish and 13 foreign nationals, including one Iranian and one Ukrainian.

 The death toll for Tuesday's attack on the airport stands at 36 with almost 150 wounded. Three suicide bombers carried out what appears to be a coordinated attack, opening fire with automatic weapons before blowing themselves up.

 Dozens of anxious friends and relatives waited early Wednesday outside Istanbul's Bakirkoy Hospital, where victims were taken.

Former DR Congo vice president Jean-Pierre Bemba jailed over war crimes

The International Criminal Court has sentenced ex-rebel leader and former Congolese vice president Jean-Pierre Bemba to 18 years for murders, rapes and pillaging committed by his troops in the Central African Republic more than a decade ago.

The verdicts announced today Tuesday, June 21, focused on the actions of his troops, as Bemba commanded a private army of 1,500 men who intervened in the neighbouring Central African Republic's civil war.

"The chamber sentences Mr Jean-Pierre Bemba Gombo to a total of 18 years of imprisonment," said judge Sylvia Steiner, ruling that the former militia leader had failed to exercise control over his private army sent into the Central African Republic in late October 2002 where they carried out "sadistic" rapes, murders and pillaging of "particular cruelty".

Fadi El Abdullah, a spokesman for the ICC told Al Jazeera the ruling was "important for the victims" and "the first time they would see justice for the crimes they suffered from".

Prosecutors at the ICC had called for a minimum 25-year jail term in the landmark case, the first to focus on rape as a weapon of war by the ICC, which was set up in 2002 to try the world's worst crimes.

Bemba was convicted in March on two counts of crimes against humanity as well as three counts of war crimes. His arrest in 2008 came as a surprise both to Bemba and his supporters and opponents at home.

He had been living in semi-exile in Europe for several years when prosecutors sprung a trap by issuing an arrest warrant during a visit to Belgium, Congo's former colonial master.

His forces the Movement for the Liberation of Congo militia (MLC) had deliberately targeted civilians as part of a "modus operandi" as they sought to halt the coup bid against the Central African Republic's then-president Ange-Felix Patasse.

Men, women and children were all raped - in one case three generations of the same family were gang-raped by MLC soldiers who held them at gunpoint and forced relatives to watch.

Bemba's lawyer have already said they will appeal against his conviction. Geraldine Mattioli-Zeltner, international justice advocacy director at Human Rights Watch, said the sentence offered "a measure of justice" for the victims.

"Other commanders should take notice that they, too, can be held accountable for rapes and other serious abuses committed by troops under their control," she said.

Source: BBC/Al Jazeera

President Obama soothes a crying baby in Japan (photos)

President Barack Obama showed off his fatherly side while en route
to Hiroshima Peace Memorial made a stop at the U.S. Marine Corps
Air Station in Iwakuni, Japan for his historic visit on Friday. The
President was handed a crying baby in diaper. He held the baby
and cooed and when he handed the baby back to his mother, he was
no longer crying. More photos after the cut...