Verizon Yahoo Purchase $5 Billion
If you thought things weren t going that great for Yahoo, well, you were right.
Rumors last week said that the huge internet company was in negotiations with Verizon, which was interested in purchasing Yahoo for nearly $5 billion.
Both companies confirmed the deal on Monday, with Verizon paying $4.83 billion for Yahoo s core business and some real estate, which is almost $500 million more than it paid for AOL last year.
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Under the deal, Verizon gets almost everything from Yahoo, including its well-known email service, the Brightroll ad service, and other services belonging to Yahoo.