Monday, July 25, 2016

Verizon Buys Yahoo For $4.83 Billion

Verizon Communications and Yahoo said this morning that Verizon will acquire Yahoo's operating businesses, in a deal worth $4.83 billion in cash. Verizon--which already owns AOL--said the acquisition will help turn Verizon into a top global mobile media company, and accelerate its digital advertising revenue stream. Yahoo will become part of AOL, under Verizon's Product Innovation and New Businesses organization. The two said the sale does not include Yahoo's cash, shares in Alibaba, shares in Yahoo Japan, and other minority investments, and non-core patents; those assets will become a new, publicly traded investment company under a yet-to-be-announced new name.