Monday July 25, 2016

Verizon To Buy Yahoo's Core Business For $4.83B

It looks like all those rumors about Verizon buying Yaho's core business turned out to be true. Verizon is plopping down $4.83 billion Yahoo's core business, slightly more than the $4.4 billion it paid for AOL last year.

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, in a deal that ends a lengthy sale process for the fading Web pioneer. The purchase of Yahoo's operations will boost Verizon's AOL internet business, which it bought last year for $4.4 billion, and give it access to Yahoo's ad technology tools, BrightRoll and Flurry, and assets such as search, mail and messenger.

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