Verizon's $4.8B Yahoo Acquisition Is Official

We heard rumblings about this on Friday, and now it's official: Verizon Communications on Monday morning announced plans to acquire Yahoo's "operating business" for approximately $4.83 billion in cash.

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As expected, the deal does not include what NPR

The deal — which is subject to customary closing conditions as well as approval by Yahoo's shareholders and regulators — is expected to close in the first quarter of 2017. Until it officially goes through, Yahoo will continue to operate independently.

In a statement

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The move comes after Verizon bought AOL

"Yahoo and AOL popularized the Internet, email, search and real-time media," Yahoo CEO Marissa Mayer said in a statement. "It's poetic to be joining forces with AOL and Verizon as we enter our next chapter focused on achieving scale on mobile."

She added that the acquisition "sets up a great opportunity for Yahoo to build further distribution and accelerate our work in mobile, video, native advertising and social."

Mayer, a former Google exec who joined Yahoo as CEOemail to employeesYahoo-owned TumblrFor 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," she wrote.

Yahoo went up for sale in April, and Verizon was rumored to be interested from the start.

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