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Verizon Close to Buying Yahoo for $5 Billion

Verizon Wireless retail store
Verizon | Credit: Flickr

Verizon, which was among the foremost suitors for Yahoo, is now finalizing a $5-billion purchase, according to sources familiar with the matter.

If the sale closes, Verizon will take over Yahoo’s core businesses, including Yahoo Mail, Yahoo Sports, Yahoo News, and Tumblr, the blogging social platform that Yahoo purchased for $1.1 billion in 2013. Yahoo’s media components would complement Verizon’s existing collection of digital properties, which include AOL and its flagship publications, Huffington Post and TechCrunch, purchased by Verizon last year for $4.4 billion.