Official: Yahoo snapped up by Verizon in $4.8 billion deal
by Kelly Fiveash from Ars Technica - All content on (#1NDB8)
(credit: Clever Cupcakes)
Verizon has confirmed earlier reports that it will buy ailing Internet pioneer Yahoo in an all-cash deal with a price tag of nearly 3.7 billion (~$4.8 billion).
The sale doesn't include Yahoo's shares in Alibaba, Verizon said. Yahoo's Japan shares, its non-core patents, and minority investments are also set to be cut loose from the planned takeover.
Those assets will form part of a new publicly traded company that will be spun out of Yahoo as a separate business. It's unclear who will head up that firm, however.
Read 7 remaining paragraphs | Comments