An era in the history of interest is going to end soon. Yahoo is being bought by Verizon for $4.83 billion. This acquisition by Verizon will make its hold more strong in the world of digital media & advertising, which the company is trying to build. This will also bring closure to Yahoo, which has been in troubled water for a long.
The complete terms for the acquisition are not yet known, but this brings closure to one of the most famous and long-running companies in the world of the internet. Keep an eye on these posts for more updates on this news. Verizon is a New York-based US telecom giant.
Update in 2021
The firms announced Monday that Verizon would pay Apollo Global Management $5 billion to purchase its media division. Thanks to the transaction, Verizon can dispose of assets from the defunct online oligarchies of AOL and Yahoo. TechCrunch, Yahoo Finance, and Engadget, online media properties previously owned by Yahoo and AOL, will be sold to Apollo at a significant discount to their previous market value
Verizon will maintain a 10% share in the business, which will now go under Yahoo.