Yahoo has agreed to sell its core business to Verizon for $4.83 billion. As part of the deal, Verizon will acquire Yahoo’s search, mail, instant messaging services, ad platform, and a few real estate holdings. The move puts Verizon behind Google and Facebook in the U.S. digital ad segment, with a total share of 4.5%.
Yahoo will retain its stake in Chinese internet giant Alibaba and Yahoo Japan, which have a combined value of over $40 billion. CEO Marissa Mayer isn’t likely to join Verizon, but she will receive a severance package valued at $57 million.
