Verizon said to be near deal to acquire Yahoo

New York

THE end of Yahoo as an independent company may be near, and Verizon - long considered the leading contender to buy the ageing web pioneer - is the most likely acquirer.

The two companies are in advanced talks over a takeover of Yahoo that could be worth close to US$5 billion, a person briefed on the matter said on Friday.

Any transaction would be for Yahoo's core Internet business, although it is unclear whether a deal would also include other assets such as real estate or patents.

Both companies are hoping to announce a deal as early as this week, this person said. Verizon is scheduled to report earnings on Tuesday.

When Yahoo began exploring a sale of its core business - a sprawling collection of properties including its sports and news sites, search engine, e-mail and the social network Tumblr - Verizon was considered the front-runner by analysts and investors. The telecommunications behemoth already owned AO…