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

By Jules Wang July 22, 2016, 5:14 pm

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.

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“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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