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Verizon To Buy Yahoo for $4.83 Billion

SAN FRANCISCO (AP) — It's the end of an era for a company that once defined the internet.

Verizon announced today that it's buying Yahoo for $4.83 billion. Verizon won the Yahoo bidding after a five-month auction. 

Yahoo is parting with its email service and websites devoted to news, finance and sports in addition to its advertising tools under pressure from shareholders fed up with a steep downturn in the company's revenue during the past eight years.

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