Verizon Agrees to Buy Yahoo’s Web Assets for $4.83 billion

Yahoo, once one of the most powerful names in the digital space, will be purchased by Verizon Communications for $4.83 billion, according to reports in the Wall Street Journal, Advertising Age and Adweek. The announcement is expected later today.

During it’s high-flying days, Yahoo had a market capitalization of $125 billion.

Verizon clearly has hopes of being a major player in the ad world. Yahoo brings its 200 million monthly users. AOL, also a Verizon company, contributes its programmatic buying and Verizon brings mobile data to the table. In addition, the purchase of Yahoo also adds Tumblr, the social media hub, to Verizon.