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Verizon buys Yahoo's core business for US$4.8b

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The purchase will boost Verizon's AOL Internet business, which it bought last year for US$4.4 billion, while giving it access to Yahoo's ad technology tools, BrightRoll and Flurry, and its search, mail and messenger assets.

New York

VERIZON Communications Inc said on Monday that it will buy Yahoo Inc's core Internet properties for US$4.83 billion in cash to expand its digital advertising and media business, ending a lengthy sale process for the fading Web pioneer.

The purchase will boost Verizon's AOL