SBD/July 26, 2016/Media

Yahoo Sports Will Operate Under Own Brand Name For Time Being After Verizon Deal

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Yahoo Sports will continue to operate under its own brand name following Verizon’s $4.83B purchase of the company's core businesses. The name will continue at least until the acquisition is slated to close early next year. Verizon intends to integrate Yahoo with its existing AOL assets to create a digital advertising powerhouse. But the Yahoo content brands will likely remain intact. Yahoo is particularly relevant in sports, where it is part of the industry’s second-most trafficked digital destination and operates a successful fantasy sports business. Specific operational plans have not been disclosed. “Until closing, Yahoo will operate our business independently and will continue to pursue the strategic plan we first announced in Q1 2016,” Yahoo said in a statement. “For now, today’s news does not impact Yahoo’s editorial offerings, including Sports.” Yahoo Sports Media VP Bob Condor declined to comment further. AOL Chair & CEO Tim Armstrong, who will lead Verizon’s integration of Yahoo’s assets into the larger company, cited Yahoo Sports as a key asset arriving in the deal. Yahoo Sports last December signed a three-year renewal of its digital partnership with NBC Sports, a deal that created an entity typically ranking only behind ESPN in monthly comScore sports rankings. NBC Sports Group Senior VP and GM of Digital Media Rick Cordella declined to comment on what the status of that alliance will be following the closing of the Verizon deal.
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