by Dan Moren
Verizon buying Yahoo internet services for $4.83 billion
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.
Unsurprisingly, there’s a lot of back and forth over what exactly Verizon’s going to do with Yahoo and its properties, but probably a lot of the same thing its done with AOL: enhance its ad business and find more revenue streams. Yahoo also retains a certain degree of name-brand recognition, which can’t hurt. Still unknown is the fate of Yahoo’s web services like Flickr and Tumblr.