VERIZON BUYS YAHOO FOR $4.83B, MARKING END OF AN ERA

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Verizon is buying Yahoo for $4.83 billion, marking the end of an era for a company that once defined the internet. After the sale is completed early next year, Yahoo will become a holding company for its two stakes in China’s e-commerce leader, Alibaba Group, and Yahoo Japan. The holding company will drop the Yahoo name and adopt a new identify after Verizon takes control of the operating business. Verizon is buying Yahoo’s real estate, along with the online operations. with AOL and Yahoo’s services, Verizon is now looking to control more of the advertising experience on phones instead of surrendering control to Google and Facebook. The deal is expected to close at some point in Q1 of 2017.

h/t: ap