U.S. Internet firm Yahoo is being acquired by American telecom giant Verizon. Yahoo will be combined with AOL, another past internet star, purchased by Verizon last year. The price tag is well below the $44 billion Microsoft offered for Yahoo in 2008 or the 125 billion it was worth during the dot.com boom.
The sales does not include Yahoo’s stake in Chinese firm Alibaba. Verizon says the deal is for Yahhoo’s core internet business which has more than a billion active users per month, would make a global mobile media company.