Yahoo Cuts $4.8 Billion Deal to Sell Core Business to Verizon - The New York Times

Also see Why Yahoo Sold Itself (NYT) and Why Verizon wants to buy an ailing Yahoo (Washington Post)

"The board of the Silicon Valley company has agreed to sell Yahoo’s core internet operations and land holdings to Verizon Communications for $4.8 billion, according to people briefed on the matter, who were not authorized to speak about the deal before the planned announcement on Monday morning.

After the sale, Yahoo shareholders will be left with about $41 billion in investments in the Chinese e-commerce company Alibaba, as well as Yahoo Japan and a small portfolio of patents."

Yahoo Cuts $4.8 Billion Deal to Sell Core Business to Verizon - The New York Times