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Yahoo confirms sale of core assets for US$4.8b to Verizon

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Yahoo agreed to sell its core assets to telecom giant Verizon for US$4.8 billion, ending a 20-year run by the internet pioneer as an independent company, the firms announced Monday.

[SAN FRANCISCO] Yahoo agreed to sell its core assets to telecom giant Verizon for US$4.8 billion, ending a 20-year run by the internet pioneer as an independent company, the firms announced Monday.

Verizon chief executive Lowell McAdam said Yahoo would be integrated into its recently acquired AOL unit to create "a top global mobile media company, and help accelerate our revenue stream in digital advertising."

AFP

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