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Verizon Agrees To Buy Yahoo’s Core Business For $4.83 Billion

Yahoo

Verizon Communications Inc (VZ.N) said Monday it would buy Yahoo Inc’s (YHOO.O) core internet properties for $4.83 billion in cash to expand its digital advertising and media business.

The price tag, which includes Yahoo’s core internet business and some real estate, is a remarkable fall for the Silicon Valley web pioneer that once had a market capitalization of more than $125 billion at the height of the dot-com boom.

The ownership of both Yahoo and AOL will give Verizon control of the third and sixth most-popular web properties in the U.S.

The deal will end a months-long bidding process for Yahoo, which began earlier this year when Chief Executive Officer Marissa Mayer — after keeping investors at bay for years — said the company would explore strategic alternatives, including selling its main internet operations.

The deal is expected to close in 2017’s first quarter.

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Jary Zaidi

Gamer. Startup Advsior. Writer. Standup Comedian. Founder GameTradersUSA. Also working on a web based on E.T & Paranormal creatures.

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  • Do you think Yahoo is making this move because they fear they’re gonna eventually be completely crushed by Google?