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Verizon to Buy Yahoo for $4.8 Billion

Long-suffering Yahoo will sell its core business to Verizon Communications for $4.8 billion, a far cry from the $44.6 billion that Microsoft offered in 2008 and that Yahoo’s board rebuffed. Yahoo shareholders will retain roughly $41 billion in investments in Chinese e-commerce giant Alibaba, plus a portfolio of about 3000 patents valued at about $1 billion. Yahoo began as a Web directory in 1994, later moving into search and then content, but with some stumbles and competition from the likes of Google, Yahoo got lost in the weeds. Marissa Mayer, an early Google employee and later high-ranking executive, was hired as CEO in 2012, but even bold initiatives like the purchase of Tumblr couldn’t stop Yahoo’s downward spiral. Verizon acquired AOL a little over a year ago, and the company has said that it will integrate Yahoo with AOL. It’s the end of an era, and we’re curious to see what Verizon will do with the Yahoo properties, notably Flickr, Tumblr, and Yahoo Finance.

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