The long saga of Yahoo’s sale may soon come to a close. According to multiple reports, Verizon is close to acquiring the digital media company for $5 billion.
While neither Verizon nor Yahoo have yet offered comments, the deal could become final over the next couple of days, according to a source who spoke with the Wall Street Journal. If the $5 billion figure is accurate, it would top the $3 billion price tag Verizon reportedly put forth back in June. By acquiring Yahoo, Verizon would beat out several other suitors, including AT&T.
While Yahoo’s prestige has faded in recent years, it would still serve as a significant addition to Verizon’s burgeoning roster of digital media properties. The telecommunications company also owns AOL, which it purchased in May 2015 for $4.4 billion.
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From a video point of view, a Yahoo acquisition would provide more fuel for Verizon’s Go90 platform, which launched in October 2015. At AOL’s 2016 Newfronts presentation, for example, Go90 programs were on full display, and Yahoo could have a similar relationship with the mobile-first video platform, even though many of its own original programming plans have gone down the drain.
As publications like Variety have noted, Verizon’s purchase of Yahoo would likely result in the termination of Yahoo CEO Marissa Mayer, who has been the digital media company’s chief executive since 2012. We’ll share more details if/when the deal is finalized.
