Less than two months after the Communications Workers of America (CWA) sold out the 45-day strike by 39,000 workers, Verizon has announced a deal to purchase Internet company Yahoo Inc. for $4.8 billion. Verizon will pay out another $1.1 billion to cash out Yahoo’s restricted stock. The acquisition of Yahoo, which still requires approval from federal regulators, follows Verizon’s purchase of online service provider AOL last year for $4.4 billion. Yahoo will now be combined with AOL, creating the third-largest digital advertising company after Google and Facebook. As part of the agreement, Yahoo CEO Marissa Mayer could net a $55 million severance package. Verizon workers and retirees expressed anger over the company’s multi-billion payout for Yahoo under conditions where they are facing cuts.
— source wsws.org