Top Story

e4m_logo.png

Home >> Digital >> Article

Verizon to buy Yahoo for $4.8 billion

26-July-2016
Font Size   16
Share
Verizon to buy Yahoo for $4.8 billion

Verizon Communications Inc. is all set to buy Yahoo Inc.’s core business for $ 4.8 billion, the company has long been considered the most likely buyer since Yahoo put its search engine and web properties on the market, could reach a deal to buy the company in the coming days, the people said.

“In order to maintain the integrity of the process, we won’t be commenting until an agreement is finalized,” a Yahoo spokeswoman said.

Shares of Yahoo rose 1.4% to $39.38 on Friday and have rallied since the company said on Feb. 2 it was exploring strategic options. Shares of Verizon gained 1.3% to $56.10. Bloomberg News earlier reported that Verizon was likely to prevail in the auction.

Verizon, with a market cap of about $228 billion, has the means to purchase Yahoo’s Web assets and a logical blueprint for folding them into its fledgling digital media business, which includes AOL properties it acquired last year. The talks cover Yahoo’s portal, search engine and properties like Yahoo Mail, Yahoo Sports and the Tumblr blogging service that attract tens of millions of visitors a month.

Tags

Siddharth Kumar Tewary, Founder, Chief Creative, One Life Studios and Swastik Productions, on owning the IP on his most ambitious project 'Porus,' the risk of recovering its cost and his distribution strategy

Webscale plans to build the brand around smooth operations for the e-commerce sector and then move on to demand generation

Shriya Ghate, Business Head, Tinkle, spills the beans on the company's vision for its special line of merchandise launched to celebrate its 37th anniversary, its pricing, marketing strategies, and more

Vivek Patni, Director of Wonder Cement, on the current marketing strategies and challenges that brand owners face

Videocon D2H and Hindustan Lever continue to dominate BARC's Top 10 Brands and Top 10 Advertisers for week 45

The series will be telecast on SONY TEN 1 channels with English commentary and on SONY TEN 3 channels with Hindi commentary

The new TVC, which is created by Dharma 2.0, is a step towards keeping cities and surroundings clean