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Verizon Wireless Buys Yahoo For $4.8 Billion Dollars!

Phone G.O.A.T. Verizon Wireless has acquired for $4.8 Billion dollars, they’re expecting the agreement to close by early 2017. It would leave Verizon with more than 25 internet brands including Yahoo’s assets in mail, social media platform Tumblr, news, lifestyle media, and entertainment. Yahoo Mail has more than 225 million monthly active users.

According to Deadline:

“The acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising.” Verizon CEO Lowell McAdam says.

The transaction only covers Yahoo’s core assets and real estate — not its shares in Alibaba Group and Yahoo Japan, convertible notes, and non-core patents. Yahoo will continue to own them after changing its name and registering as a new, publicly traded company. It says it will provide details “at a future date.” AOL chief Tim Armstrong says he has “enormous respect for what Yahoo has accomplished: this transaction is about unleashing Yahoo’s full potential, building upon our collective synergies, and strengthening and accelerating that growth. Combining Verizon, AOL and Yahoo will create a new powerful competitive rival in mobile media, and an open, scaled alternative offering for advertisers and publishers.”

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