Verizon communications issued a statement on Monday morning and confirmed that it has entered into a definitive agreement to purchase Yahoo’s core business for $4.83 billion in cash.

Yahoo Inc., Sunnyvale, California, Yahoo mail, Yahoo news and Yahoo Finance and Yahoo Sports as part of deal in which Verizon buys Yahoo Inc. The sale does not include Yahoo’s cash and its shares in the Alibaba Group and Yahoo Japan.
Verizon bought AOL last year in a deal valued at roughly $4.4 billion and plans to combine its online business with Yahoo once it acquires. But even a combined Yahoo and AOL would fail to outpace Facebook and Google, which currently account for over half of the U.S. digital ad market, according to a Wall Street Journal estimate.

A lot of us would definitely become nostalgic as most in my generation who were introduced to internet are well aware of Yahoo. I created my first mail account on Still search Yahoo finance for most information.

Though many expected the sale of Yahoo to mark the end of Mayer’s reign, a Tumblr post from Mayer moments after the deal was announced read, “For me personally, I’m planning to stay. I love Yahoo, and I believe in all of you. It’s important to me to see Yahoo into its next chapter.”

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