Verizon

Wireless company retreats from the media sector, but will retain 10% stake in digital-media business

Maybe not surprisingly, as the guy in charge of Verizon’s finances, it does come down to money.

YAHOO has agreed to sell its core business to telecom giant Verizon for $US4.8 billion ($6.4 billion), ending a 20-year run by the internet pioneer as an independent company, the firms announced.

Verizon announced Monday that it will acquire Yahoo's core business for $4.8 billion. WIBBITZ

Verizon announced on Monday morning it will buy Yahoo for $4.83 billion in cash. It is the end of a closely-scrutinized, six-month sale process.

US telecoms giant Verizon Communications is to buy Yahoo's search and advertising operations for $5bn (£3.8bn), according to media reports.

America’s telecommunications company Verizon is in "one-on-one" talks with Yahoo after beating rival bidders for crippled internet giant, Bloomberg reported citing sources.

Verizon has long been the nation's most expensive wireless carrier.

Verizon Communications, long considered the favorite in the Yahoo asset sales sweepstakes, plans to submit a $3 billion bid, according to a published report.

Secretary of Labor Thomas E. Perez has announced that a deal has been reached between telecommunications giant Verizon and uni-ons representing 39,000 workers, ending a six-week strike over cuts to pensions and pay.

Verizon workers on the East Coast are continuing to strike after the company gave uni-ons what it called its “last, best and final” offer.

When Android Pay made its initial debut, it was unclear whether Verizon would actually support it. Not only is it doing that now, but it is actually encouraging customers to use it by offering up to 2GB of extra data for free.