Verizon CEO Touts Yahoo Acquisition as ‘Exponential Leap in Capabilities’

Lowell McAdam sarcastically apologizes to analysts for lack of reorg announcement

Last Updated: July 26, 2016 @ 7:30 AM

In case you haven’t heard, Verizon is quite pleased with its $4.8 billion acquisition of Yahoo’s core assets.

On a Tuesday morning conference call tied to the telecom company’s second-quarter earnings announcement, CEO Lowell McAdam glowed over his new toy.

“We’re extremely excited about the assets that Yahoo has in the areas of Sports and Finance and Email and News,” he told media analysts and the press. “You match those up with AOL and we’ve just made an exponential leap in capabilities here.”

McAdam also took a little time to tease those on the line.

“I understand there were lots rumors on me on me announcing a big reorganization of the company, so I’m sorry to disappoint you — but I think we have some pretty exciting things to talk about here,” he opened the question-and-answer portion of the call.

Read all about Verizon’s Q2 financial results here. Gather more details on the Yahoo deal — which McAdam expects to officially close early next year — here.

The essential source
for entertainment insiders

Sign up for your
FREE TRIAL!