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Verizon to Buy Yahoo in $5B Deal, Source Says

Business Verizon Yahoo

Verizon Communications Inc will announce an agreement on Monday to buy Yahoo Inc for about $5 billion, according to a person familiar with the matter.

The announcement will come before the start of New York trading hours, the source added.

The deal will end months of uncertainty about Yahoo's future after the company announced plans to review strategic alternatives in February.

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Yahoo was not immediately available, and Verizon declined to comment.

A Yahoo logo is pictured in front of a building in Switzerland. Reuters

Bloomberg reports that the deal will include Yahoo's real estate assets, while intellectual property is expected to be sold separately. Yahoo will hold on to its stakes in Alibaba and Yahoo Japan. 

Verizon has been aggressively expanding its media footprint. In May, the company announced a deal to buy AOL Inc. for $4.4 billion, and in February it bought licenses worth $10.4 billion in a government sale of wireless airwaves for mobile data.

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