Verizon正式宣布48.3亿美金收购雅虎.

　　It’s official: Yahoo’s days as an independent company are over.

　　最新消息：雅虎作为一家独立运营的公司，已曲终人散。

　　Verizon has agreed to pay $4.83 billion for Yahoo (YHOO, Tech30), the companies said bore markets opened Monday.

　　星期一早市开盘前得到确认：威瑞森同意以48.3亿美金收购雅虎。

　　The sale completes Yahoo’s evolution from influential search pioneer and web portal juggernaut to, in the end, a once-dominant brand that lost its way.

　　这桩交易让雅虎从一家有影响力的搜索引擎先驱、门户网站鼻祖，最终成为辉煌不再的陨落之星。

　　Parties as diverse as Warren Buffett and The Daily Mail were interested in buying Yahoo. But after a sale process that dragged on for months, Verizon (VZ, Tech30), long viewed as the frontrunner, is walking away with Yahoo’s more than one billion monthly active users.

　　在此之前，有多家公司包括沃伦.巴菲特和《每日邮报》等都对收购雅虎表现出极大兴趣。不过，在历时数月的挣扎后，一直以来被视为行业领跑者的威瑞森胜出，带走了雅虎每月10亿多的活跃用户。

　　Current Yahoo shareholders will keep the company’s lucrative investments in Chinese e-commerce giant Alibaba and Yahoo Japan. They will be spun into a separate, yet-to-be-named, publicly traded company. The deal also excludes some patents and Yahoo’s cash.

　　不过，雅虎股东仍将持有阿里巴巴股份以及日本雅虎。他们将更名并重新注册，成为一家新的上市投资公司。交易也不包括雅虎的一些专利和可转换债券。

　　The Verizon deal must be approved by regulators and is expected to be finalized in the first quarter of 2017.

　　威瑞森的收购还须得到监管部门的审核，整个收购有望在2017年Q1完成。

　　The sale puts an end to Yahoo’s 21-year history as an independent company. Yahoo will now be integrated with Verizon-owned AOL under Marni Walden, an executive vice president at the telecom company.

　　此项收购也终结了过去21年雅虎作为独立的互联网运营公司的身份。收购后雅虎将被整合入Verizon旗下的、由玛尼.瓦尔登担任执行副总裁的美国在线(AOL)。

　　It also ends a turnaround fort by Marissa Mayer, who joined Yahoo four years ago and promised to revitalize the company. Verizon and Yahoo have not commented on who will lead Yahoo once the deal is complete.

　　现任雅虎CEO 玛丽莎.梅耶尔4年来的努力也付诸东流。她四年前接任CEO时曾信誓旦旦要复兴雅虎。对于收购完成后谁会接管雅虎，目前，威瑞森和雅虎双方均未作出回应。

　　It’s unclear what Mayer will do after the deal closes. A spokesman for Yahoo said it’s "too early to say" whether she will stay on as CEO, accept a new role at Verizon, or step aside. Meanwhile, Mayer says she will stay on to see Yahoo through its transition.

　　交易完成后，玛丽莎.梅耶尔将何去何从，尚未得知。雅虎一位发言人表示，现在确认她是否是将来雅虎的CEO、还是在威瑞森有一个新职位、或是会离开，“都为时过早”。

　　"For me personally, I’m planning to stay," Mayer wrote Monday in a memo to employees posted on Tumblr. "I love Yahoo, and I believe in all of you. It’s important to me to see Yahoo into its next chapter."

　　星期一，玛丽莎.梅耶尔发表在博客平台Tumblr上的、给全体员工的致辞中提到，“对于我个人来说，我计划留下来。我热爱雅虎，我也相信所有人。亲眼见证雅虎进入下一个全新时期，对我来说非常重要。”

　　On a conference call with analysts after the announcement, Mayer repeated that line bore adding, "A lot of the integration discussions are still ahead of us."

　　在消息宣布后，在分析师们的电话会议中，梅耶尔重复了这一点，并补充说，“许多整合的流程还有待商讨。”

　　Mayer also tried to frame the deal in a positive light on the call. She touted Verizon’s potential to "accelerate our revenue stream in digital advertising" and repeatedly said she was "excited" for the future.

　　在会议中，她还试图为本次交易构造出积极的意义——她高度吹捧了威瑞森的潜力，称其将“在数字媒体和广告方面加速提高我们的收入”，并重申她对未来“非常兴奋”。

　　Tim Armstrong, the CEO of Verizon-owned AOL, said he has "enormous respect for what Yahoo has accomplished" and that integrating the two former internet powerhouses will "create a new powerful competitive rival in mobile media, and an open, scaled alternative offering for advertisers and publishers."

　　Verizon旗下美国在线(AOL)的CEO 蒂姆.阿姆斯特朗表示“相当尊重雅虎所取得的成绩”，并称两家互联网科技行业的强强联合，将“创造出移动媒体的一个新的强大对手，”以及为广告业务和数字媒体提供一个开放式的、规模宏大的选择。

　　Mayer, like Armstrong, previously worked at Google (GOOG) bore taking over the top spot at Yahoo in 2012. She invested heavily in improving Yahoo’s mobile products, expanding its audience through the acquisition of Tumblr and doubling down on premium media content. She brought in TV journalist Katie Couric as Yahoo’s "global anchor."

　　和阿姆斯特朗相似的是，雅虎CEO 玛丽莎.梅耶尔在2012年掌舵雅虎之前，也是在谷歌工作。她斥巨资，通过收购博客平台Tumblr和在高端媒体上大下功夫，希望能提高雅虎的移动产品，扩大用户群体。她还招揽了电视记者凯蒂.柯丽克来给雅虎制造原创内容。

　　But Mayer struggled to slow Yahoo’s overall ad sales decline.

　　然而，梅耶尔难以应对雅虎广告总销量的快速下降。

　　After reporting earnings last week, Mayer made what may have been her final case to investors and the public that she worked to "create a better Yahoo."

　　上周雅虎发布财报后，梅耶尔向投资者和公众作了可能是她的雅虎CEO生涯的最后一个主张，表示她正努力“创造一个更好的雅虎”。

　　But the sale price suggests that Yahoo’s glory days ended long ago. In 2008, for example, Microsoft (MSFT, Tech30) was willing to pay more than $45 billion for Yahoo, an offer that was rebuffed by cofounder Jerry Yang.

　　不过，48.3亿美金的成交价表明雅虎的光辉都已成为过去式。例如，早在2008年，微软愿意出价高于450亿美元收购雅虎，被其联合创始人杨致远拒绝。

　　Yahoo was synonymous with the Internet itself in the late ’90s. But for Verizon, the deal is about more than just nostalgia. The telecom company has invested in digital content and advertising in recent years, buying AOL and the Huffington Post.

　　上世纪90年代，雅虎几乎就是互联网的代名词。不过对于威瑞森来说，这桩交易可不仅是为了怀旧。这家美国电信巨头近年来已经进军数字媒体和广告业务，并购了美国在线和赫芬顿邮报。

　　Investors were less than thrilled. Shares of Yahoo were down nearly 2% Monday morning.

　　投资者们可一点也不兴奋。星期一早市，雅虎股票下跌近2%。