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Yahoo confirms sale of core assets for $4.8 bn to Verizon

AFPAFP 25/07/2016 Justin Sullivan
Yahoo will be integrated into its recently acquired AOL unit as core assets are sold to Verizon© Provided by AFP Yahoo will be integrated into its recently acquired AOL unit as core assets are sold to Verizon

Yahoo agreed to sell its core assets to telecom giant Verizon for $4.8 billion, ending a 20-year run by the internet pioneer as an independent company, the firms announced Monday.

Verizon chief executive Lowell McAdam said Yahoo would be integrated into its recently acquired AOL unit to create "a top global mobile media company, and help accelerate our revenue stream in digital advertising."

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