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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Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
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