Verizon announced its acquiring Yahoo’s core assets, including search, video and mobile advertising. The deal is valued at $4.83 billion.
Verizon will continue to operate those assets under the Yahoo brand name.
The sale comes after a five-month bidding process that saw interest from media groups such as the Daily Mail and IAC, Internet companies such as Google and Microsoft, and private equity firms TPG and Bain Capital.
Microsoft offered $45 billion for the company in 2008 — and was rebuffed, reported the Los Angeles Times.