Verizon To Acquire Yahoo In $4.83 Billion Deal

Verizon Communications Inc. said early Monday that it has reached a deal with Yahoo Inc. to acquire the internet company's operating business. The agreement will see Verizon pay $4.83 billion in cash in a move to create a mega mobile media technology company, according to a news release. Under the deal, Yahoo will be integrated with AOL, which Verizon bought last year. Verizon shares were up less than a 1%, while Yahoo shares were halted for the news.