Verizon to buy Yahoo’s core business for $4.8 billion in digital ad push

Verizon Communications Inc said on Monday it would buy Yahoo Inc’s core internet properties for $4.83 billion in cash, marking the end of the line for a storied Web pioneer and setting the stage for a big new internet push by the telecom giant.

Verizon will combine Yahoo’s search, email and messenger assets as well as advertising technology tools with its AOL unit, which it bought last year for $4.4 billion. Verizon has been looking to mobile video and advertising for new sources of revenue outside the oversaturated wireless market.

Yahoo is still one of the largest properties on the internet, with hundreds of millions of customers using its email, finance and sports offerings, among others, and a heavily trafficked home page.

Source: Reuters

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