verizonUS internet firm Yahoo is being acquired by American telecoms giant Verizon Communications for nearly $5 billion in cash.
Yahoo will be combined with AOL, another faded internet star, which Verizon bought last year.
YahooThe deal does not include Yahoo’s valuable stake in Chinese firm Alibaba.
The price tag for the deal is well below the $44 billion Microsoft offered for Yahoo in 2008 or the $125 billion it was worth during the boom.
Verizon said the deal for Yahoo’s core internet business, which has more than a billion active users a month, would make it a global mobile media company.