Verizon buys Yahoo for $4.83B, marking end of an era

Verizon buys Yahoo for $4.83B, marking end of an era


Verizon is buying Yahoo for $4.83 billion, marking the end of an era for a company that once defined the internet.The sale announced Monday marks the second time in two years that Verizon has snapped up the remains of a fallen internet star as it broadens its digital reach.

The nation’s largest wireless carrier paid $4.4 billion for AOL last year.Verizon won the Yahoo bidding after a five-month auction.Yahoo Inc. is parting with its email service and websites devoted to news, finance and sports in addition to its advertising tools under pressure from shareholders fed up with a steep downturn in the company’s revenue during the past eight years.The deal is expected to close in 2017’s first quarter.


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