Verizon Has Reportedly Bought Yahoo for $4.8 Billion

Telecom giant gains big digital audience

Yahoo, once as big of an internet company as one could find, has been sold to Verizon Communications for $4.8 billion, according to The Wall Street Journal. Just prior to when the dot-com bubble burst in 2000, the digital pioneer, at that time, had a market capitalization of some $125 billion.

The agreement is expected to be announced on Monday, per the Journal. UPDATE: The deal became official this morning.

It's an intriguing marriage on many levels when it comes to advertising, primarily because Yahoo has struggled to build its mobile ad business, while Verizon offers a wealth of data from on-the-go consumers.

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