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Yahoo Australia to operate as per normal for now

Xinhua, July 26, 2016 Adjust font size:

The Australian arm of Yahoo will operate as per normal after news emerged on Tuesday that the search engine's core assets had been sold for 4.8 billion U.S dollars to American telecommunication giant Verizon.

Seven West Media which had run local subsidiary Yahoo7 in an equal share joint venture with Yahoo over the past decade expects to hold talks with Verizon on its take-over plans for the company in the next six to nine months.

"Seven West Media has a number of positive options that will define its future development and success in digital media, building on its already highly successful development over the past few years," the company said in a statement to the ASX on Tuesday.

The company said it will seek the best outcome "that creates the most value for Seven West Media shareholders."

The Verizon-Yahoo deal announced Tuesday is expected to be completed early next year. Endit