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Yahoo Inc., Verizon Communications Inc. Agree to $4.8 Billion Deal

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SAN FRANCISCO, CA -- Yahoo has lost the war against itself.

On Monday morning, Verizon Communications announced it agreed to pay $4.83 billion  to buy the failing company.

That amount is a lot lower than the $45 billion Microsoft was willing to pay for the company in 2008.

At one time, Yahoo was one of the strongest companies in the market. It bought from Dallas Mavericks owner, Mark Cuban for almost $6 million in 1999.

Over the years, several search engines have lost business. They include WebCrawler, AOL, DogPile, and Ask Jeeves.

On the other hand, Google has turned into a phenomenon, even being added to Webster's Dictionary as a verb. "Just google it."

As for Yahoo's CEO Marissa Mayer, she said she plans to stay with the company as it goes through its changes.



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