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

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 Internet business, which it bought last year for US$4.4 billion, as it gains access to Yahoo's ad technology tools, BrightRoll and Flurry, and search, mail and messenger assets.