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.
-
'"Andor" examines all sides of how empires operate'Instant Opinion Opinion, comment and editorials of the day
-
DHS chief Kristi Noem's purse stolen from eaterySpeed Read Homeland Security Secretary Kristi Noem's purse was stolen while she dined with family at a restaurant in Washington, D.C.
-
Harvard sues Trump over frozen grant moneySpeed Read The Trump administration withheld $2.2 billion in federal grants and contracts after Harvard rejected its demands
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
-
Biden expected to block Japanese bid for US SteelSpeed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
