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Verizon Nearing $5 Billion Deal to Buy Yahoo -- Report

News Bot Jul 22, 2016

  1. News Bot

    News Bot Chaos Immortal

    Yahoo could soon be owned by Verizon. Bloomberg reports that the phone giant is "nearing a deal" to snap up the web company and is reportedly discussing a price "close to $5 billion."
    According to the report, $5 billion would get Verizon Yahoo's "core internet business," but not the company's patents, at least not at this stage of the reported discussions. Whether or not other Yahoo assets, including the company's real estate holdings, would also be sold is unclear.
    [​IMG]Sources told Bloomberg that Verizon and Yahoo could announce the deal "in the coming days." However, the report also mentions nothing is final at this point and it "may still fall apart."
    Verizon and Yahoo have not commented on the report.
    Talk about a Yahoo sale has been brewing for a long time now and Verizon was even mentioned as a potential suitor, alongside a group run by Quicken Loans founder and Cleveland Cavaliers owner Dan Gilbert.
    If Verizon were to buy Yahoo, it wouldn't be the company's first acquisition of a trailblazing web company, as it already owns AOL.
    According to the report, Verizon is hoping to position itself as a stronger competitor to Google and Facebook when it comes to mobile advertising. Buying Yahoo would give the company a wider network of users, as Yahoo runs websites like Flickr, Tumblr, Yahoo Finance, and Yahoo Sports.
    In March this year, Yahoo announced Yahoo Esports, which it's calling a "new premier destination for delivering professional Esports coverage across major games and events." What effect a Verizon buyout of Yahoo would have on the company's gaming division is unknown.
    We'll report back with more information on the rumored Verizon-Yahoo buyout as it becomes available.


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