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Verizon to buy Yahoo’s core business for $4.8 billion in digital ad push

Verizon to buy Yahoo’s core business for $4.8 billion in digital ad push

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Verizon Communications Inc (VZ.N) said on Monday it would buy Yahoo Inc’s (YHOO.O) core internet properties for $4.83 billion in cash to expand its digital advertising and media business, ending a protracted sale process for the fading Web pioneer.

The purchase will boost Verizon’s AOL internet business, which it bought last year for $4.4 billion, as it gains access to Yahoo’s ad technology tools, BrightRoll and Flurry, and search, email and messenger assets.

Verizon, the No. 1 U.S. wireless operator, has in recent years looked to mobile video and advertising for new sources of revenue in an oversaturated wireless market. It has also scaled back on its Fios TV and internet service.

Read More/Source: Reuters

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