November 17, 2024 7:38 pm
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Verizon announces $4.8 billion deal for Yahoo’s Internet business

Yahoo CEO Marissa Mayer:/Photo- ERIC PIERMONT, AFP:Getty Images
Yahoo CEO Marissa Mayer:/Photo- ERIC PIERMONT, AFP:Getty Images

By Vindu Goel | The New York Times

Verizon, seeking to bolster its meager web content business, announced on Monday that it was acquiring Yahoo’s core internet business for $4.83 billion in cash.

The deal, which was reached over the weekend, unites two titans of the early internet, AOL and Yahoo, which were surpassed by Google and Facebook long ago and struggled to compete on their own. Verizon bought AOL for $4.4 billion last year and intends to pair it with Yahoo’s content and advertising services to create a stronger No. 3 challenger.

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