Yahoo Acquired By Verizon For $4.83 Billion

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Verizon has agreed to buy Yahoo for a reported $4.83 billion. According to CNN, parties from Warren Buffett to The Daily Mail were interested but when a sale process dragged on for months Verizon came in and closed the deal.

The deal now must be approved by regulators and is expected to be finalized in the first quarter of 2017. It marks the end of Yahoo’s 21-year history as an independent company. Once finalized, Yahoo will be integrated with Verizon-owned AOL under Marni Walden, an executive VP at the telecom company.

For Verizon, the deal continues its plan to grow its digital business. It has invested in digital content and advertising in recent years buying AOL and the Huffington Post.

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