Tag yahoo agrees to sell core assets to verizon

A significant development!

On July 25, 2017, Yahoo! Inc. announced that it had agreed to sell its core internet business to Verizon Communications Inc. for $4.48 billion in cash. The deal marked a major milestone in the history of Yahoo!, which was founded in 1994 and was once one of the most popular websites on the internet.

Under the terms of the agreement, Verizon would acquire Yahoo!'s core assets, including its search, email, and homepage services, as well as its advertising and content platforms. The deal did not include Yahoo!'s stakes in Alibaba Group Holding Ltd. and Yahoo! Japan, which would remain with Yahoo!'s shareholders.

The acquisition was seen as a strategic move by Verizon to strengthen its position in the digital media and advertising markets. Verizon had previously acquired AOL, another major internet company, in 2015, and the deal with Yahoo! would give it a significant foothold in the online advertising space.

The deal was subject to regulatory approval and was completed on June 13, 2017. After the acquisition, Yahoo!'s core assets were merged with AOL to form a new subsidiary called Oath Inc., which was later rebranded as Verizon Media in 2019.

The sale of Yahoo!'s core assets marked the end of an era for the company, which had once been a dominant player in the internet industry. However, the deal also provided a new beginning for Yahoo!'s employees, who would continue to work under Verizon's ownership.