Verizon nabs most of Yahoo for $4.8 billion
by from Techreport on (#1NE5X)
Yahoo's long-running struggle to reinvent itself is coming to an end today. Telecom giant Verizon is taking most of the iconic internet company under its wing for $4.8 billion, and it plans to meld the property with its AOL subsidary when the acquisition is complete. That means popular websites like Flickr, Tumblr, and a variety of Yahoo-branded portals will now be under the same roof as Engadget, the Huffington Post, and TechCrunch.
According to Yahoo Finance , Verizon isn't getting Yahoo's 15% stake in Chinese e-commerce giant Alibaba, its shares of Yahoo Japan, its patent portfolio, or its cash on hand as part of the bargain. Those parts of the business will remain with the shell of Yahoo after the transaction ...