From CNET: The two companies made the announcement Monday after the months-long courtship between the troubled internet giant and the largest wireless company in the US.
Verizon will pay $4.83 billion in cash for Yahoo's core internet business, which includes iconic web brands like Yahoo Mail, Fantasy Sports, photo storage site Flickr and Yahoo search, as well as the company's advertising technology.
Verizon has become a collector of high-flying brands from the early days of the internet. The telecom giant will merge Yahoo with AOL, another past-its-prime web trailblazer that Verizon bought last year for $4.4 billion. The thinking is that the two companies can combine to make a solid No. 3 alternative to digital advertising juggernauts Google and Facebook, which rank as the most trafficked websites in the world. Right now, those two companies account for almost 43 percent of digital ad sales worldwide, according to eMarketer. Yahoo is in seventh place with 1.5 percent.
"The acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising," Verizon CEO Lowell McAdam said in a statement.
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