Report: Verizon to buy Yahoo for close to $5 billion
On Monday, Verizon will announce it has agreed to buy Yahoo for about $5 billion, sources with knowledge of the deal told Bloomberg.
The deal includes Yahoo real estate assets, but the company will keep its stakes in Alibaba Group Holding Ltd. and Yahoo Japan Corp., with a combined market value of close to $40 billion, the sources said. If the deal goes through, it will double the size of Verizon's digital advertising, and will likely end the tenure of Yahoo CEO Marissa Mayer. "The deal speaks to a clear strategy shift at Verizon," analyst Craig Moffett told Bloomberg Sunday. "They are trying to monetize wireless in an entirely new way. Instead of charging customers for traffic, they are returning to charging advertisers for eyeballs." A spokesman for Verizon and spokeswoman for Yahoo declined to comment on the report.
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