Verizon To Buy Yahoo for $4.83 Billion
Posted: Jul 25, 2016 12:33 PM CDT | Updated: Jul 25, 2016 12:42 PM CDT
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.