Ailing Yahoo is selling off its operating business for about $4.8 billion to Verizon Communications in a cash deal that will reduce the storied tech company to mainly holding its cash, stakes in Alibaba and Yahoo Japan and non-core patents. The transaction is expected to be completed by the first quarter of next year, subject to regulatory approvals, ending a long drawn out bidding process for the company. After the transaction is closed, Yahoo will be integrated with AOL under Marni Walden, its executive vice president and president of the Product Innovation and New Businesses organization at Verizon.”]
Source: https://www.computerworld.com/article/3099228/yahoo-sells-internet-biz-to-verizon-in-48b-deal.html