Story 2016-07-26 1NFC8 Yahoo sells internet business to Verizon in $4.8B deal

Yahoo sells internet business to Verizon in $4.8B deal

in internet on (#1NFC8)
Yahoo has sold off its operating business for about $4.8 billion to Verizon Communications in a cash deal that will reduce the storied tech company to mainly holding its cash, valuable stake in Alibaba, Yahoo Japan and non-core patents. Once a mainstay of the internet, Yahoo steadily declined in popularity and relevance as it failed to keep up with its competitors. For $4.8 billion, Verizon will get Yahoo’s 1 billion monthly active users, its internet properties and key applications like search, email, and Yahoo's advertising systems. Yahoo will get yet another chance to reinvent itself and possibly find a way to make itself relevant in today's market. No word on if president and Chief Executive Officer Marissa Mayer will be retained.
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