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Verizon acquires Yahoo! for $4.8 billion [RJOVenturesInc.com]

 
Verizon acquires Yahoo! for $4.8 billion. Featured @ RJO Ventures, Inc. 
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Yahoo is poised to sell its core internet business to Verizon Communications for $4.8 billion. In acquiring Yahoo, which it will merge with its AOL operation, Verizon beat out rival bidders including Dan Gilbert, founder of Quicken Loans, whose bid had been backed by billionaire Warren Buffett. 

The New York-based communications conglomerate won’t be buying Yahoo’s 3,000 technology patents, which could be worth more than $1 billion and are being auctioned off in a separate process, sources said. Nor is Verizon buying Yahoo’s stake in Yahoo Japan or its equity chunk of China-based Alibaba. 

Headed by former Google exec Tim Armstrong, AOL is likewise aiming for Yahoo’s advertising tech tools, as well as its search engine and e-mail service. Armstrong, who had tried and failed to convince Marissa Mayer to buy AOL in 2014 before selling to Verizon, will create the third-largest internet advertiser with the Yahoo deal — albeit far behind Google and Facebook, which together control more than half of the online advertising market, according to eMarketer. AOL and Yahoo account for just 3.4 percent and 1.8 percent, respectively, of the $69 billion niche, eMarketer said.



Source: New York Post