Yahoo agrees sell core assets verizon

You're referring to the recent news about Yahoo's agreement to sell its core internet business to Verizon!

Yes, on July 25, 2016, Yahoo announced that it had agreed to sell its core internet business to Verizon Communications for $4.48 billion in cash. The deal marked a significant milestone in Yahoo's history, as the company had been struggling to compete with other tech giants like Google and Facebook.

Under the terms of the agreement, Verizon will acquire Yahoo's core internet business, which includes its search engine, email service, and other online properties. The deal does not include Yahoo's stakes in Alibaba Group Holding Ltd. or Yahoo Japan Corp., which will remain with Yahoo's shareholders.

The acquisition is expected to close in the first half of 2017, pending regulatory approval. Once the deal is complete, Yahoo will become a subsidiary of Verizon, and its brand will likely be phased out over time.

The sale of Yahoo's core assets is seen as a strategic move by Verizon to strengthen its position in the digital media and advertising space. Verizon has been expanding its digital capabilities through a series of acquisitions, including its purchase of AOL in 2015.

Meanwhile, Yahoo's shareholders will receive $4.83 per share in cash, which represents a premium of 47% over Yahoo's closing stock price on July 25, 2016.

The deal marks the end of an era for Yahoo, which was once one of the most popular websites on the internet. However, the company has struggled to adapt to the changing digital landscape and has faced intense competition from other tech giants.