Verizon and Yahoo said to be days from announcing $5 billion deal

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Verizon, which has been the leading horse out of five bidders to buy out Yahoo!, is said to be finalizing its acquisition of the multimedia company for $5 billion.

A source to Bloomberg said that we should see the deal announced in a few days. Verizon would be getting all of Yahoo’s real estate and internet assets. Intellectual property will be going to a separate buyer.

With this move, Verizon will expand its already-rich content bay — it picked up Engadget from its AOL acquisition, after all — with gains of Flickr, Tumblr, a stake in Chinese e-commerce site Alibaba and the Yahoo! News division. It will also have access to more and better ad vendors.

“This will expand Verizon’s advertising base by 200 million more visitors,” said Roger Entner, analyst with Recon Analytics.

Last week, Sprint’s owner, SoftBank, bought out UK-based processor giant ARM for $31 billion.

Source: Bloomberg

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About The Author
Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.