News
Verizon To Buy Out Yahoo For $4.8B, Hoping To Compete With Google And Facebook
Though not quite commercial real estate-related, Bisnow would be crazy not to mention Verizon’s plan to take over Yahoo for $4.8B—ending the giant web pioneer’s two-decade era as an independent company.
The deal will include Yahoo’s real estate assets, exclude some intellectual property that will be sold separately, and Yahoo will maintain stakes in Alibaba Group Holding and Yahoo Japan for a combined market value of approximately $40B, Bloomberg reports.
Verizon plans to keep Yahoo intact, using the company’s digital presence to boost monthly users by 1 billion people, and to increase its mail, news and financial tools—competing with the likes of Google and Facebook. [Bloomberg]
