Yahoo Current Affairs

Verizon Completes Yahoo Acquisition

Telecom giant Verizon has acquired Yahoo’s core business for $4.48bn (£3.51m), thus ending Yahoo’s two-decade long run as an independent company. Verizon is the No.1 wireless operator in the US.

Salient Highlights

Verizon will combine Yahoo with AOL which was bought by it two years ago to establish a venture called Oath. The Oath is a division in Verizon’s Media and Telematics organisation. Oath owns more than 50 brands such as HuffPost, TechCrunch and Tumblr.

With the acquisition, Yahoo’s chief executive Marissa Mayer has resigned.

Verizon has not indicated how it proposes to use the Yahoo brand which is used by millions of people worldwide. But it has stated that it will keep the names Yahoo Sports, Yahoo Finance, Yahoo Mail and more.

Yahoo’s acquisition brings to an end a long decline of its market value which peaked at $125 billion in 2000.

The remainder of Yahoo which is not acquired by Verizon will change its name to Altaba Inc. It will become a holding company with 15.5% stakes in Chinese Internet giant Alibaba and a 35.5% holding in Yahoo Japan Corp. It will begin trading under the ticker symbol “AABA.”

Thomas McInerney, a Yahoo board member will be made as Altaba’s chief executive officer.

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SC directs search engines to block sex determination advertisements

Supreme Court (SC) has directed search engines like Google India, Yahoo and Micrsoft’s Bing to block advertisements on sex determination and strictly comply with the laws.

This ruling was given by SC bench comprising of Justices Dipak Misra and Prafulla C. Pant on public interest litigation (PIL) filed by Dr. Sabu Mathew George in 2008.

PIL had highlighted that the use of Internet and popular search engines to promote sex determination technologies violates laws.

SC directions to search engines

  • Withdraw advertisements on sex determination as it violates Section 22 of the Pre-Conception and Pre-Natal Diagnostic Techniques (Prohibition of Sex Selection) Act,1994.
  • Search engines must upload this order on their policy page and also the page containing terms and conditions of service to serve as a warning for persons intending to put up such advertisements.

Background

  • Though sex determination is illegal India, it is still practiced which has a severe effects on male-female ratio.
  • As per UN data, India’s child sex ratio has dropped from 964 in 1971 to a low of 918 in 2011.
  • While between 2001 and 2011, child sex ratio has declined in more than two-thirds of the districts in the country  and this problem is worse in urban areas.

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