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.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
Can Japan's new prime minister govern effectively?Today's Big Question A 'popular gadfly' gets the top job
-
UK cedes Chagos Islands to Mauritius, minus US baseSpeed Read Mauritius has long argued it was forced to give up the islands in 1965 in return for independence from Britain
-
Liz Cheney campaigns with Harris in WisconsinSpeed Read The pair does not agree on much politically, but they share an anti-Trump stance
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
-
Reddit IPO values social media site at $6.4 billionSpeed Read The company makes its public debut on the New York Stock Exchange
-
Housing costs: the root of US economic malaise?speed read Many voters are troubled by the housing affordability crisis
