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Verizon Expected To Announce $4.8B Acquisition Of Yahoo

Verizon Expected To Acquire Yahoo For $4.8B

A source said that Verizon "has agreed to pay" $4.8B to acquire Yahoo. The price tag "is a remarkable fall" for the company that "once had a market capitalization of more than" $125B. For Verizon, the deal "simply adds another piece to the digital media and advertising business it is trying to build." A source added that Verizon "plans to keep the Yahoo brand." The deal is expected to be announced early today (WALL STREET JOURNAL, 7/25).

Cavaliers Owner Dan Gilbert teamed with Berkshire Hathaway Chair & CEO Warren Buffett to bid on the company but the duo "has come up short" (DETROIT NEWS, 7/25).  

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