Verizon Finalizes $4.8 Billion Yahoo Deal
July 24 2016 - 2:04PM
Dow Jones News
By Ryan Knutson
Verizon Communication Inc. has agreed to pay $4.8 billion to
acquire Yahoo Inc., according to a person familiar with the matter,
ending a drawn-out auction process for the beleaguered internet
company.
The price tag, which includes Yahoo's core internet business and
real estate, is a remarkable fall for the Silicon Valley web
pioneer that once had a market capitalization of more than $125
billion at the height of the dot-com boom.
For Verizon, the deal simply adds another piece to the digital
media and advertising business it's trying to build.
The deal is expected to be announced early Monday. The price was
earlier reported by Bloomberg News.
Write to Ryan Knutson at ryan.knutson@wsj.com
(END) Dow Jones Newswires
July 24, 2016 13:49 ET (17:49 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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