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Verizon Set To Buy Yahoo For $4.8 Billion

US Telecomms giant Verizon is set to acquire search engine player Yahoo.

Bloomberg broke the story earlier today, saying “Verizon Communications Inc. will announce plans to buy Yahoo’s core assets for a bit more than $4.8 billion before the market opens”

“The deal includes Yahoo real estate assets, while some intellectual property is to be sold separately, the people said. Yahoo will be left with its stakes in Alibaba Group Holding Ltd. and Yahoo Japan Corp., with a combined market value of about $40 billion.”

The acquisition will double Verizon’s current digital advertising portfolio, placing it at a confident third place behind Google and Facebook.

According to analyst Craig Moffett, “Verizon is hoping that combining Yahoo’s content with AOL’s ad technology platform and Verizon’s own insights into user data can make the advertising inventory much more valuable.”

It’s quite a markdown for Yahoo, once valued at $140 billion, but at-least it provides a clear outline for the company’s future prospects in the sector