Verizon hasagreed to buy online portal Yahoo Inc. for nearly $5 billion, the companies announced Monday.
Verizon will acquire Yahoo’s operating business for about $4.83 billion, according to the telecommunications company. The deal “will put Verizon in a highly competitive position as a top global mobile media company” and help accelerate its revenue stream in digital advertising, Verizon Chairman and CEO Lowell McAdam said in a statement.
